United Capital Financial Advisers LLC lowered its stake in shares of Masco Corp (NYSE:MAS) by 43.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,992 shares of the construction company’s stock after selling 69,176 shares during the period. United Capital Financial Advisers LLC’s holdings in Masco were worth $3,531,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Castleark Management LLC acquired a new stake in shares of Masco in the 2nd quarter worth about $267,000. APG Asset Management N.V. raised its holdings in shares of Masco by 7.3% in the 2nd quarter. APG Asset Management N.V. now owns 7,491,385 shares of the construction company’s stock worth $258,133,000 after acquiring an additional 507,300 shares during the last quarter. Banco de Sabadell S.A acquired a new stake in shares of Masco in the 2nd quarter worth about $1,124,000. Parametric Portfolio Associates LLC raised its holdings in shares of Masco by 1.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 924,626 shares of the construction company’s stock worth $36,282,000 after acquiring an additional 10,701 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of Masco by 611.5% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 56,107 shares of the construction company’s stock worth $309,000 after acquiring an additional 48,221 shares during the last quarter. Hedge funds and other institutional investors own 90.15% of the company’s stock.
Shares of Masco stock traded down $1.53 on Tuesday, reaching $41.19. 3,885,787 shares of the company traded hands, compared to its average volume of 2,621,134. Masco Corp has a 52 week low of $27.03 and a 52 week high of $43.59. The company has a 50 day moving average of $40.24 and a 200 day moving average of $39.14. The firm has a market capitalization of $12.50 billion, a PE ratio of 16.47, a PEG ratio of 1.81 and a beta of 1.40. The company has a debt-to-equity ratio of 39.03, a current ratio of 1.46 and a quick ratio of 0.96.
Masco (NYSE:MAS) last released its earnings results on Thursday, July 25th. The construction company reported $0.88 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm earned $0.75 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. As a group, analysts anticipate that Masco Corp will post 2.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, October 11th will be paid a $0.135 dividend. This is a boost from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a yield of 1.31%. Masco’s dividend payout ratio is currently 19.20%.
A number of equities research analysts recently weighed in on the stock. TheStreet lowered shares of Masco from a “b” rating to a “c+” rating in a report on Friday, July 26th. Argus upped their target price on shares of Masco from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Robert W. Baird set a $48.00 target price on shares of Masco and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada set a $45.00 target price on shares of Masco and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Zacks Investment Research upgraded shares of Masco from a “sell” rating to a “hold” rating and set a $44.00 price objective for the company in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Masco has an average rating of “Buy” and an average price target of $45.60.
In other Masco news, CFO John G. Sznewajs sold 85,473 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total value of $3,494,136.24. Following the sale, the chief financial officer now directly owns 318,403 shares in the company, valued at approximately $13,016,314.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.17% of the company’s stock.
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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