Bamco Inc. NY cut its position in shares of Masco Corp (NYSE:MAS) by 18.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 504,187 shares of the construction company’s stock after selling 111,215 shares during the period. Bamco Inc. NY owned 0.16% of Masco worth $19,668,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Masco during the 2nd quarter worth about $101,000. YorkBridge Wealth Partners LLC increased its stake in shares of Masco by 4.6% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after purchasing an additional 127 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Masco by 27.6% during the 2nd quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock worth $135,000 after purchasing an additional 763 shares during the last quarter. Fiduciary Trust Co. acquired a new position in shares of Masco during the 2nd quarter worth about $166,000. Finally, Kings Point Capital Management boosted its holdings in shares of Masco by 50.0% during the 2nd quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock worth $172,000 after buying an additional 1,500 shares during the period. Institutional investors own 89.14% of the company’s stock.
Masco Corp (NYSE MAS) traded down $0.23 during midday trading on Wednesday, reaching $42.19. 2,506,300 shares of the company’s stock were exchanged, compared to its average volume of 2,643,428. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 49.48. The company has a market cap of $13,343.86, a P/E ratio of 23.05, a P/E/G ratio of 1.31 and a beta of 1.59. Masco Corp has a 52-week low of $31.29 and a 52-week high of $43.79.
Masco (NYSE:MAS) last posted its quarterly earnings data 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 during 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 for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. research analysts forecast that Masco Corp will post 1.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, October 13th were issued a $0.105 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $0.42 dividend on an annualized basis and a yield of 1.00%. This is an increase from Masco’s previous quarterly dividend of $0.10. Masco’s payout ratio is currently 25.00%.
MAS has been the subject of several research analyst reports. Robert W. Baird lifted their target price on shares of Masco from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Citigroup lifted their target price on shares of Masco from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. FBR & Co reaffirmed a “buy” rating and set a $46.00 target price (up previously from $43.00) on shares of Masco in a report on Wednesday, October 25th. Royal Bank of Canada lifted their target price on shares of Masco from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research raised shares of Masco from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Masco has an average rating of “Buy” and an average price target of $42.88.
In other Masco news, VP Renee Straber sold 2,574 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $42.55, for a total value of $109,523.70. Following the completion of the sale, the vice president now owns 65,423 shares of the company’s stock, valued at approximately $2,783,748.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John G. Sznewajs sold 52,511 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were 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 directly owns 391,443 shares of the company’s stock, valued at approximately $15,591,174.69. The disclosure for this sale can be found here. Insiders sold a total of 91,227 shares of company stock valued at $3,622,549 in the last three months. Insiders own 1.30% of the company’s stock.
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Masco Company Profile
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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