Principal Financial Group Inc. trimmed its holdings in shares of Masco Corp (NYSE:MAS) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,353 shares of the construction company’s stock after selling 5,252 shares during the period. Principal Financial Group Inc. owned about 0.20% of Masco worth $24,161,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pettee Investors Inc. bought a new stake in shares of Masco during the 3rd quarter worth $733,000. Nicolet Bankshares Inc. increased its holdings in Masco by 20.1% in the 3rd quarter. Nicolet Bankshares Inc. now owns 12,459 shares of the construction company’s stock worth $486,000 after acquiring an additional 2,085 shares during the last quarter. Train Babcock Advisors LLC increased its holdings in Masco by 1.5% in the 3rd quarter. Train Babcock Advisors LLC now owns 153,695 shares of the construction company’s stock worth $5,996,000 after acquiring an additional 2,210 shares during the last quarter. Prudential Financial Inc. increased its holdings in Masco by 2.3% in the 3rd quarter. Prudential Financial Inc. now owns 497,210 shares of the construction company’s stock worth $19,396,000 after acquiring an additional 11,362 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its holdings in Masco by 125.3% in the 3rd quarter. State of Tennessee Treasury Department now owns 450,617 shares of the construction company’s stock worth $17,578,000 after acquiring an additional 250,627 shares during the last quarter. Institutional investors own 89.14% of the company’s stock.
Several equities research analysts recently weighed in on the company. B. Riley reissued a “buy” rating on shares of Masco in a report on Wednesday, November 1st. KeyCorp reissued a “hold” rating on shares of Masco in a report on Tuesday, September 26th. Nomura set a $45.00 price objective on Masco and gave the stock a “buy” rating in a report on Wednesday, October 25th. Citigroup lifted their price objective on Masco from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada lifted their price objective on Masco from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Masco currently has an average rating of “Buy” and a consensus target price of $42.88.
In other news, CFO John G. Sznewajs sold 52,511 shares of Masco stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $39.83, for a total transaction of $2,091,513.13. Following the completion of the sale, the chief financial officer now owns 391,443 shares in the company, valued at approximately $15,591,174.69. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lokeren Mary Ann Van sold 16,850 shares of Masco stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $38.85, for a total value of $654,622.50. Following the sale, the director now owns 47,909 shares of the company’s stock, valued at approximately $1,861,264.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,990 shares of company stock valued at $3,600,733. Corporate insiders own 1.30% of the company’s stock.
Masco Corp (MAS) traded up $0.16 during mid-day trading on Thursday, reaching $42.31. The company’s stock had a trading volume of 2,805,980 shares, compared to its average volume of 2,642,691. The stock has a market cap of $13,310.00, a price-to-earnings ratio of 23.36, a PEG ratio of 1.33 and a beta of 1.59. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 49.48. Masco Corp has a 1-year low of $31.29 and a 1-year high of $43.79.
Masco (NYSE:MAS) last issued its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Masco had a net margin of 7.23% and a negative return on equity of 7,325.00%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. sell-side analysts expect that Masco Corp will post 1.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Friday, October 13th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Thursday, October 12th. This is an increase from Masco’s previous quarterly dividend of $0.10. Masco’s dividend payout ratio (DPR) is 24.85%.
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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