Janney Montgomery Scott LLC lifted its position in shares of Masco Co. (NYSE:MAS) by 317.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,828 shares of the construction company’s stock after purchasing an additional 32,573 shares during the period. Janney Montgomery Scott LLC’s holdings in Masco were worth $2,361,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Flagship Harbor Advisors LLC grew its holdings in Masco by 200.0% during the third quarter. Flagship Harbor Advisors LLC now owns 498 shares of the construction company’s stock worth $27,000 after purchasing an additional 332 shares during the period. Nachman Norwood & Parrott Inc acquired a new stake in shares of Masco in the third quarter valued at approximately $28,000. Ovata Capital Management Ltd bought a new position in shares of Masco during the 2nd quarter worth approximately $35,000. Smithfield Trust Co. increased its holdings in shares of Masco by 545.5% during the 2nd quarter. Smithfield Trust Co. now owns 710 shares of the construction company’s stock worth $36,000 after acquiring an additional 600 shares during the last quarter. Finally, 1776 Wealth LLC bought a new stake in Masco in the 2nd quarter valued at $50,000. 89.68% of the stock is currently owned by institutional investors.
MAS has been the topic of several research reports. The Goldman Sachs Group lowered shares of Masco from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $65.00 to $60.00 in a research report on Wednesday, September 30th. TheStreet raised shares of Masco from a “c+” rating to a “b” rating in a report on Wednesday, October 28th. Credit Suisse Group restated a “buy” rating and set a $61.00 price objective on shares of Masco in a report on Friday, July 24th. Royal Bank of Canada increased their target price on Masco from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Finally, Robert W. Baird lifted their price target on Masco from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, October 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.92.
In related news, VP Scott E. Mcdowell sold 2,283 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $54.18, for a total transaction of $123,692.94. Following the completion of the transaction, the vice president now directly owns 14,026 shares in the company, valued at approximately $759,928.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott E. Mcdowell sold 3,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $54.58, for a total transaction of $163,740.00. Following the completion of the transaction, the vice president now directly owns 19,309 shares of the company’s stock, valued at approximately $1,053,885.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,066 shares of company stock valued at $493,379. 1.23% of the stock is owned by corporate insiders.
MAS stock opened at $54.60 on Friday. The company’s 50-day moving average price is $55.70 and its two-hundred day moving average price is $52.74. The firm has a market cap of $14.29 billion, a P/E ratio of 10.09, a P/E/G ratio of 1.13 and a beta of 1.48. The company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 8.17. Masco Co. has a 12 month low of $27.04 and a 12 month high of $60.16.
Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, October 28th. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.25. Masco had a net margin of 21.27% and a return on equity of 1,966.88%. Equities analysts predict that Masco Co. will post 3.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Friday, October 9th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, October 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Masco’s previous quarterly dividend of $0.14. Masco’s payout ratio is 24.89%.
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company operates through two segments, Plumbing Products and Decorative Architectural Products. The 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, and fitness systems; brass, copper, and composite plumbing system components; thermoplastic extrusions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.
Recommended Story: How is an ETF different from a mutual fund?
Want to see what other hedge funds are holding MAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masco Co. (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.