Sadoff Investment Management LLC grew its holdings in shares of Masco Corporation (NYSE:MAS) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 886,315 shares of the construction company’s stock after purchasing an additional 4,046 shares during the quarter. Masco Corporation comprises about 3.1% of Sadoff Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. Sadoff Investment Management LLC owned approximately 0.28% of Masco Corporation worth $34,575,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware bought a new position in Masco Corporation in the 2nd quarter worth $101,000. YorkBridge Wealth Partners LLC raised its holdings in Masco Corporation by 4.6% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after acquiring an additional 127 shares during the period. Advisory Services Network LLC raised its holdings in Masco Corporation by 27.6% in the 2nd 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. Fiduciary Trust Co. bought a new position in Masco Corporation in the 2nd quarter worth $166,000. Finally, Kings Point Capital Management raised its holdings in Masco Corporation by 50.0% in the 2nd quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock worth $172,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.
MAS has been the topic of several recent analyst reports. Robert W. Baird reiterated a “buy” rating and issued a $42.00 target price on shares of Masco Corporation in a report on Monday, August 28th. Zacks Investment Research downgraded shares of Masco Corporation from a “buy” rating to a “sell” rating in a report on Tuesday, October 3rd. Credit Suisse Group set a $36.00 target price on shares of Masco Corporation and gave the stock a “hold” rating in a report on Thursday, July 27th. Barclays PLC lifted their target price on shares of Masco Corporation from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Masco Corporation in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $42.88.
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In other Masco Corporation news, VP John P. Lindow sold 17,026 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $40.07, for a total value of $682,231.82. Following the completion of the transaction, the vice president now directly owns 101,681 shares of the company’s stock, valued at $4,074,357.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lokeren Mary Ann Van sold 16,850 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $38.85, for a total transaction of $654,622.50. Following the completion of the transaction, the director now directly owns 47,909 shares of the company’s stock, valued at $1,861,264.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,990 shares of company stock worth $3,600,733. Company insiders own 1.30% of the company’s stock.
Masco Corporation (MAS) traded up $0.22 during trading hours on Monday, reaching $39.36. 1,394,700 shares of the company’s stock were exchanged, compared to its average volume of 2,639,972. The firm has a market capitalization of $12,380.00, a price-to-earnings ratio of 21.39, a PEG ratio of 1.22 and a beta of 1.56. Masco Corporation has a 52-week low of $30.08 and a 52-week high of $41.10. The company has a debt-to-equity ratio of 49.48, a quick ratio of 1.43 and a current ratio of 1.94.
Masco Corporation (NYSE:MAS) last released its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. analysts expect that Masco Corporation will post 1.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, October 13th were given a $0.105 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This is a positive change from Masco Corporation’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a yield of 1.07%. Masco Corporation’s payout ratio is 24.85%.
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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