Raymond James Financial Services Advisors Inc. increased its stake in Masco Corporation (NYSE:MAS) by 185.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,471 shares of the construction company’s stock after acquiring an additional 43,839 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Masco Corporation were worth $2,578,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware bought a new stake in Masco Corporation during the second quarter worth approximately $101,000. YorkBridge Wealth Partners LLC boosted its holdings in Masco Corporation by 4.6% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after buying an additional 127 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Masco Corporation by 4.4% during the second quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock worth $113,000 after buying an additional 125 shares in the last quarter. Pathstone Family Office LLC bought a new stake in Masco Corporation during the first quarter worth approximately $103,000. Finally, Fiduciary Trust Co. bought a new stake in Masco Corporation during the second quarter worth approximately $166,000. Institutional investors and hedge funds own 88.33% of the company’s stock.
In other news, insider Joseph B. Gross sold 2,337 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $37.53, for a total value of $87,707.61. Following the transaction, the insider now directly owns 56,935 shares of the company’s stock, valued at $2,136,770.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kenneth G. Cole sold 2,266 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total transaction of $84,657.76. Following the completion of the transaction, the vice president now directly owns 85,693 shares in the company, valued at $3,201,490.48. The disclosure for this sale can be found here. Insiders sold 24,101 shares of company stock worth $916,799 over the last three months. Insiders own 1.30% of the company’s stock.
Masco Corporation (MAS) opened at 40.11 on Friday. Masco Corporation has a 1-year low of $29.38 and a 1-year high of $41.10. The company has a 50-day moving average of $38.54 and a 200-day moving average of $37.54. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of 24.81 and a beta of 1.54.
Masco Corporation (NYSE:MAS) last issued its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Masco Corporation had a net margin of 7.23% and a negative return on equity of 7,325.00%. Masco Corporation’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. On average, equities analysts predict that Masco Corporation will post $1.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Friday, October 13th will be given a $0.105 dividend. The ex-dividend date is Thursday, October 12th. This is a positive change from Masco Corporation’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a dividend yield of 1.05%. Masco Corporation’s dividend payout ratio is presently 25.00%.
A number of brokerages recently weighed in on MAS. Wells Fargo & Company cut shares of Masco Corporation from an “outperform” rating to a “market perform” rating and set a $44.00 target price for the company. in a report on Wednesday. Royal Bank Of Canada raised their target price on shares of Masco Corporation from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday. Raymond James Financial, Inc. restated a “market perform” rating on shares of Masco Corporation in a report on Wednesday. Robert W. Baird raised their target price on shares of Masco Corporation from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Nomura set a $45.00 price target on shares of Masco Corporation and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $42.71.
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Masco Corporation Profile
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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