Raymond James & Associates lessened its stake in shares of Masco Corp (NYSE:MAS) by 48.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,876 shares of the construction company’s stock after selling 221,138 shares during the period. Raymond James & Associates owned approximately 0.08% of Masco worth $6,751,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Masco by 16.4% during the third quarter. Russell Investments Group Ltd. now owns 167,898 shares of the construction company’s stock worth $6,176,000 after acquiring an additional 23,610 shares during the period. Victory Capital Management Inc. increased its position in Masco by 119.7% during the third quarter. Victory Capital Management Inc. now owns 208,501 shares of the construction company’s stock worth $7,631,000 after acquiring an additional 113,596 shares during the period. Daiwa Securities Group Inc. increased its position in Masco by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 12,062 shares of the construction company’s stock worth $441,000 after acquiring an additional 1,613 shares during the period. Wells Fargo & Company MN increased its position in Masco by 25.2% during the third quarter. Wells Fargo & Company MN now owns 1,109,646 shares of the construction company’s stock worth $40,612,000 after acquiring an additional 223,687 shares during the period. Finally, American Century Companies Inc. bought a new position in Masco during the third quarter worth $560,000. 91.55% of the stock is owned by institutional investors.
In other news, insider Keith J. Allman sold 51,283 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $39.82, for a total value of $2,042,089.06. Following the sale, the insider now owns 426,072 shares in the company, valued at approximately $16,966,187.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kenneth G. Cole sold 23,161 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $40.03, for a total transaction of $927,134.83. Following the completion of the sale, the vice president now owns 96,843 shares in the company, valued at approximately $3,876,625.29. The disclosure for this sale can be found here. Insiders sold a total of 298,940 shares of company stock worth $11,890,269 in the last 90 days. 1.20% of the stock is owned by corporate insiders.
Shares of NYSE:MAS opened at $38.91 on Friday. Masco Corp has a 52 week low of $27.03 and a 52 week high of $42.27. The company has a debt-to-equity ratio of 43.06, a quick ratio of 1.08 and a current ratio of 1.64. The firm has a market capitalization of $11.56 billion, a PE ratio of 15.56, a PEG ratio of 1.41 and a beta of 1.46.
Masco (NYSE:MAS) last issued its earnings results on Thursday, February 7th. The construction company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. Masco had a net margin of 8.78% and a return on equity of 520.34%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts forecast that Masco Corp will post 2.69 EPS for the current year.
A number of brokerages recently issued reports on MAS. SunTrust Banks boosted their target price on shares of Masco to $52.00 and gave the stock a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Barclays reiterated a “buy” rating and set a $39.00 price target on shares of Masco in a research note on Sunday, February 10th. Royal Bank of Canada set a $37.00 price target on shares of Masco and gave the stock a “hold” rating in a research note on Monday, November 19th. Credit Suisse Group reiterated a “hold” rating and set a $34.00 price target on shares of Masco in a research note on Thursday, February 7th. Finally, Zacks Investment Research upgraded shares of Masco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $42.90.
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Masco Company Profile
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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