Stevens Capital Management LP trimmed its stake in shares of Masco Corp (NYSE:MAS) by 55.2% in the second quarter, Holdings Channel.com reports. The fund owned 69,947 shares of the construction company’s stock after selling 86,113 shares during the quarter. Stevens Capital Management LP’s holdings in Masco were worth $2,745,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC bought a new stake in shares of Masco during the first quarter valued at approximately $29,000. Ellis Investment Partners LLC purchased a new position in shares of Masco in the 1st quarter worth about $38,000. Zions Bancorporation N.A. purchased a new stake in Masco during the 1st quarter valued at about $44,000. SevenBridge Financial Group LLC lifted its holdings in Masco by 271.3% in the 2nd quarter. SevenBridge Financial Group LLC now owns 1,218 shares of the construction company’s stock worth $48,000 after buying an additional 890 shares during the period. Finally, NuWave Investment Management LLC raised its position in shares of Masco by 305.1% in the 2nd quarter. NuWave Investment Management LLC now owns 1,260 shares of the construction company’s stock worth $50,000 after acquiring an additional 949 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.
Shares of MAS stock traded up $0.21 during trading on Thursday, hitting $38.13. 12,765 shares of the company were exchanged, compared to its average volume of 3,244,742. The company has a debt-to-equity ratio of 39.03, a current ratio of 1.46 and a quick ratio of 0.96. The company has a market capitalization of $11.24 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.63 and a beta of 1.44. The business’s 50-day moving average is $39.36. Masco Corp has a twelve month low of $27.03 and a twelve month high of $42.58.
Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. Masco had a net margin of 8.77% and a return on equity of 792.80%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities analysts predict that Masco Corp will post 2.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, July 12th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, July 11th. This represents a $0.48 annualized dividend and a yield of 1.26%. Masco’s dividend payout ratio is currently 19.20%.
A number of research firms have commented on MAS. Zacks Investment Research raised Masco from a “sell” rating to a “hold” rating and set a $44.00 price target on the stock in a report on Monday, July 29th. Raymond James set a $50.00 price target on Masco and gave the stock a “buy” rating in a research report on Friday, July 26th. Bank of America reissued a “buy” rating and issued a $56.00 target price (up from $43.00) on shares of Masco in a research report on Monday, May 6th. Royal Bank of Canada set a $45.00 price target on shares of Masco and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Robert W. Baird set a $48.00 price target on shares of Masco and gave the company a “buy” rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $45.27.
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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