Pensionfund DSM Netherlands purchased a new position in shares of Masco Corporation (NYSE:MAS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 80,000 shares of the construction company’s stock, valued at approximately $3,121,000.
Other hedge funds also recently modified their holdings of the company. Lord Abbett & CO. LLC raised its stake in Masco Corporation by 15.5% during the second quarter. Lord Abbett & CO. LLC now owns 239,859 shares of the construction company’s stock worth $9,165,000 after acquiring an additional 32,267 shares during the period. USA Financial Portformulas Corp acquired a new stake in Masco Corporation during the second quarter worth about $516,000. Toronto Dominion Bank raised its stake in Masco Corporation by 25.3% during the second quarter. Toronto Dominion Bank now owns 108,391 shares of the construction company’s stock worth $4,141,000 after acquiring an additional 21,863 shares during the period. Cetera Investment Advisers raised its stake in Masco Corporation by 26.0% during the second quarter. Cetera Investment Advisers now owns 13,432 shares of the construction company’s stock worth $513,000 after acquiring an additional 2,770 shares during the period. Finally, Advisory Services Network LLC raised its stake in Masco Corporation by 27.6% during the second quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock worth $135,000 after acquiring an additional 763 shares during the period. 88.27% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $43.00 price objective on shares of Masco Corporation in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and set a $45.00 price objective on shares of Masco Corporation in a research note on Wednesday, July 19th. Zacks Investment Research lowered shares of Masco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Longbow Research reiterated a “buy” rating and set a $42.00 price objective on shares of Masco Corporation in a research note on Tuesday, July 4th. Finally, BidaskClub lowered shares of Masco Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $40.92.
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In other Masco Corporation news, VP Kenneth G. Cole sold 2,266 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total value of $84,657.76. Following the completion of the transaction, the vice president now directly owns 85,693 shares of the company’s stock, valued at $3,201,490.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard A. O’reagan sold 19,498 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $38.18, for a total transaction of $744,433.64. Following the completion of the transaction, the insider now directly owns 91,154 shares of the company’s stock, valued at $3,480,259.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,101 shares of company stock valued at $916,799. Insiders own 1.30% of the company’s stock.
Shares of Masco Corporation (MAS) traded down 0.13% during midday trading on Wednesday, hitting $38.85. 491,363 shares of the company’s stock traded hands. The company has a 50 day moving average price of $37.96 and a 200 day moving average price of $37.23. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 24.03 and a beta of 1.54. Masco Corporation has a 1-year low of $29.38 and a 1-year high of $39.62.
Masco Corporation (NYSE:MAS) last announced its earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Equities analysts anticipate that Masco Corporation will post $1.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, October 13th will be paid a $0.105 dividend. The ex-dividend date is Thursday, October 12th. This is an increase from Masco Corporation’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.08%. Masco Corporation’s payout ratio is currently 25.93%.
About Masco Corporation
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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