World Asset Management Inc raised its stake in shares of Masco Corp. (NYSE:MAS) by 1.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,111 shares of the company’s stock after buying an additional 526 shares during the period. World Asset Management Inc’s holdings in Masco Corp. were worth $1,102,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Masco Corp. by 2.5% in the second quarter. IFP Advisors Inc now owns 4,000 shares of the company’s stock valued at $124,000 after buying an additional 96 shares during the period. Tower Research Capital LLC TRC boosted its stake in Masco Corp. by 1,368.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,477 shares of the company’s stock valued at $169,000 after buying an additional 5,104 shares during the period. Pacer Advisors Inc. boosted its stake in Masco Corp. by 8.6% in the second quarter. Pacer Advisors Inc. now owns 6,221 shares of the company’s stock valued at $192,000 after buying an additional 495 shares during the period. Dearborn Partners LLC purchased a new stake in Masco Corp. during the third quarter valued at $201,000. Finally, Bank of Nova Scotia purchased a new stake in Masco Corp. during the second quarter valued at $206,000. Hedge funds and other institutional investors own 88.83% of the company’s stock.
Masco Corp. (NYSE:MAS) traded up 0.16% during mid-day trading on Friday, reaching $31.98. 3,139,724 shares of the company were exchanged. The stock has a 50-day moving average price of $32.08 and a 200 day moving average price of $33.22. The company has a market capitalization of $10.38 billion, a PE ratio of 23.07 and a beta of 1.56. Masco Corp. has a one year low of $23.10 and a one year high of $37.38.
Masco Corp. (NYSE:MAS) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.03. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Masco Corp. had a net margin of 6.40% and a return on equity of 620.95%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. Analysts predict that Masco Corp. will post $1.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 13th. Shareholders of record on Friday, January 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, January 11th. Masco Corp.’s payout ratio is currently 28.78%.
MAS has been the subject of several recent analyst reports. Goldman Sachs Group Inc. cut shares of Masco Corp. from a “conviction-buy” rating to a “buy” rating in a research report on Monday, December 12th. Evercore ISI initiated coverage on shares of Masco Corp. in a research report on Monday, November 14th. They set a “buy” rating and a $40.00 price objective for the company. Jefferies Group decreased their price objective on shares of Masco Corp. from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. MKM Partners upgraded shares of Masco Corp. from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $40.00 to $36.00 in a research report on Wednesday, October 26th. Finally, RBC Capital Markets reiterated a “buy” rating and set a $37.00 price objective (down from $41.00) on shares of Masco Corp. in a research report on Wednesday, October 26th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $36.35.
In other news, Director Lisa A. Payne sold 5,657 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $30.11, for a total value of $170,332.27. Following the sale, the director now directly owns 88,697 shares of the company’s stock, valued at approximately $2,670,666.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.
About Masco Corp.
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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