Highland Capital Management LLC Grows Position in Masco Corp (MAS)

Highland Capital Management LLC increased its position in shares of Masco Corp (NYSE:MAS) by 28.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,771 shares of the construction company’s stock after buying an additional 5,311 shares during the quarter. Highland Capital Management LLC’s holdings in Masco were worth $870,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Voya Investment Management LLC grew its stake in Masco by 15.4% during the 2nd quarter. Voya Investment Management LLC now owns 3,765,150 shares of the construction company’s stock worth $140,891,000 after buying an additional 501,978 shares during the last quarter. Iridian Asset Management LLC CT grew its stake in Masco by 4,126.8% during the 2nd quarter. Iridian Asset Management LLC CT now owns 3,100,364 shares of the construction company’s stock worth $116,016,000 after buying an additional 3,027,014 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Masco by 147.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,312,287 shares of the construction company’s stock worth $86,526,000 after buying an additional 1,377,136 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Masco by 45.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,011,984 shares of the construction company’s stock worth $75,289,000 after buying an additional 626,222 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Masco by 189.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,823,176 shares of the construction company’s stock valued at $68,217,000 after purchasing an additional 1,193,132 shares during the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

MAS opened at $31.00 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.67 and a debt-to-equity ratio of 23.57. The company has a market capitalization of $9.83 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.86 and a beta of 1.39. Masco Corp has a 12 month low of $30.88 and a 12 month high of $46.44.

Masco (NYSE:MAS) last posted its quarterly earnings results on Tuesday, July 31st. The construction company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. Masco had a net margin of 7.41% and a return on equity of 490.27%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, research analysts forecast that Masco Corp will post 2.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Friday, October 12th will be issued a $0.12 dividend. This is a boost from Masco’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, October 11th. Masco’s dividend payout ratio (DPR) is currently 24.74%.

Several research analysts have weighed in on the company. ValuEngine downgraded Masco from a “sell” rating to a “strong sell” rating in a research note on Thursday. Robert W. Baird set a $42.00 target price on Masco and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Masco from a “hold” rating to a “sell” rating in a research note on Tuesday. Longbow Research downgraded Masco from a “buy” rating to a “neutral” rating in a research note on Friday, October 12th. Finally, Bank of America set a $40.00 target price on Masco and gave the company a “hold” rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $45.44.

In other news, insider Joseph B. Gross sold 1,286 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $39.91, for a total value of $51,324.26. Following the completion of the sale, the insider now directly owns 48,740 shares of the company’s stock, valued at approximately $1,945,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John G. Sznewajs sold 96,869 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $38.95, for a total value of $3,773,047.55. Following the completion of the sale, the chief financial officer now directly owns 237,578 shares of the company’s stock, valued at $9,253,663.10. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Masco Company Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.

Featured Article: Stock Split

Institutional Ownership by Quarter for Masco (NYSE:MAS)

Receive News & Ratings for Masco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masco and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply