Huntington National Bank lowered its stake in Masco Corp (NYSE:MAS) by 8.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 41,421 shares of the construction company’s stock after selling 4,070 shares during the quarter. Huntington National Bank’s holdings in Masco were worth $2,080,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MAS. First Trust Advisors LP acquired a new stake in Masco in the 1st quarter valued at $1,280,000. Profund Advisors LLC grew its stake in Masco by 9.5% in the 4th quarter. Profund Advisors LLC now owns 5,496 shares of the construction company’s stock valued at $264,000 after acquiring an additional 478 shares during the period. Macquarie Group Ltd. grew its stake in Masco by 6.6% in the 4th quarter. Macquarie Group Ltd. now owns 139,046 shares of the construction company’s stock valued at $6,672,000 after acquiring an additional 8,603 shares during the period. Franklin Resources Inc. acquired a new stake in Masco in the 4th quarter valued at $1,562,000. Finally, State of Alaska Department of Revenue grew its stake in Masco by 7.8% in the 1st quarter. State of Alaska Department of Revenue now owns 123,472 shares of the construction company’s stock valued at $4,268,000 after acquiring an additional 8,968 shares during the period. 92.76% of the stock is currently owned by hedge funds and other institutional investors.
MAS has been the topic of a number of research reports. Nomura raised their price objective on Masco from $52.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, April 30th. KeyCorp raised their price objective on Masco from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Nomura Securities raised their price objective on Masco from $38.00 to $52.00 and gave the company a “buy” rating in a report on Friday, April 17th. Nomura Instinet raised their price objective on Masco from $52.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Raymond James lowered Masco from a “strong-buy” rating to a “market perform” rating and set a $52.00 price objective on the stock. in a report on Friday, May 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $52.69.
Shares of NYSE:MAS opened at $57.16 on Friday. The business has a 50-day moving average price of $50.53 and a 200 day moving average price of $44.69. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 68.16. The company has a market capitalization of $15.08 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.34 and a beta of 1.49. Masco Corp has a 12-month low of $27.04 and a 12-month high of $57.85.
Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.69 billion. Masco had a negative return on equity of 1,729.19% and a net margin of 19.23%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. As a group, equities research analysts predict that Masco Corp will post 2.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Friday, July 10th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, July 9th. Masco’s payout ratio is 24.00%.
In other Masco news, CAO John P. Lindow sold 5,674 shares of Masco stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $49.00, for a total value of $278,026.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,958 shares of the company’s stock, valued at approximately $1,173,942. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO John P. Lindow sold 1,246 shares of Masco stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $50.00, for a total value of $62,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 22,712 shares of the company’s stock, valued at $1,135,600. The disclosure for this sale can be found here. 1.23% of the stock is currently owned by company insiders.
Masco Company Profile
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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