Eastern Bank grew its stake in shares of Masco Corporation (NYSE:MAS) by 1.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 331,102 shares of the construction company’s stock after acquiring an additional 3,195 shares during the period. Eastern Bank owned about 0.10% of Masco Corporation worth $12,917,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in MAS. Boston Partners grew its position in shares of Masco Corporation by 53.1% during the 2nd quarter. Boston Partners now owns 13,602,650 shares of the construction company’s stock valued at $519,757,000 after acquiring an additional 4,714,941 shares during the period. AJO LP grew its position in shares of Masco Corporation by 1,209.7% during the 2nd quarter. AJO LP now owns 3,165,592 shares of the construction company’s stock valued at $120,957,000 after acquiring an additional 2,923,889 shares during the period. BlackRock Inc. boosted its holdings in Masco Corporation by 9.9% in the 2nd quarter. BlackRock Inc. now owns 30,658,112 shares of the construction company’s stock worth $1,171,447,000 after buying an additional 2,763,057 shares during the period. Northern Trust Corp boosted its holdings in Masco Corporation by 31.3% in the 2nd quarter. Northern Trust Corp now owns 8,246,426 shares of the construction company’s stock worth $315,096,000 after buying an additional 1,963,938 shares during the period. Finally, FMR LLC boosted its holdings in Masco Corporation by 7.5% in the 2nd quarter. FMR LLC now owns 20,535,390 shares of the construction company’s stock worth $784,657,000 after buying an additional 1,439,946 shares during the period. 89.79% of the stock is owned by hedge funds and other institutional investors.
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Several research analysts recently commented on MAS shares. MKM Partners reaffirmed a “buy” rating and issued a $44.00 price objective (up from $43.00) on shares of Masco Corporation in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Masco Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, September 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Masco Corporation in a report on Monday, August 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Masco Corporation in a report on Wednesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Masco Corporation in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Masco Corporation has a consensus rating of “Buy” and an average target price of $42.71.
In related news, VP John P. Lindow sold 17,026 shares of Masco Corporation stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $40.07, for a total value of $682,231.82. Following the transaction, the vice president now owns 101,681 shares in the company, valued at approximately $4,074,357.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kenneth G. Cole sold 2,266 shares of Masco Corporation stock in a transaction on Tuesday, September 19th. The stock was 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 owns 85,693 shares in the company, valued at approximately $3,201,490.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,140 shares of company stock worth $2,946,110. 1.30% of the stock is owned by corporate insiders.
Shares of Masco Corporation (NYSE MAS) opened at $38.61 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 49.48. The firm has a market cap of $12,145.35, a price-to-earnings ratio of 20.98, a PEG ratio of 1.20 and a beta of 1.56. Masco Corporation has a 52-week low of $30.08 and a 52-week high of $41.10.
Masco Corporation (NYSE:MAS) last issued its earnings results on Tuesday, October 24th. The construction company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Masco Corporation had a negative return on equity of 7,325.00% and a net margin of 7.23%. Masco Corporation’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. sell-side analysts expect that Masco Corporation will post 1.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, October 13th will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, October 12th. This is a boost from Masco Corporation’s previous quarterly dividend of $0.10. Masco Corporation’s dividend payout ratio (DPR) is presently 25.00%.
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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