Granite Investment Advisors LLC bought a new stake in Masco Corp (NYSE:MAS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,500 shares of the construction company’s stock, valued at approximately $286,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nationwide Fund Advisors grew its holdings in shares of Masco by 416.8% in the third quarter. Nationwide Fund Advisors now owns 465,586 shares of the construction company’s stock worth $18,163,000 after purchasing an additional 375,494 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Masco by 129.6% in the third quarter. First Trust Advisors LP now owns 141,628 shares of the construction company’s stock worth $5,525,000 after purchasing an additional 79,946 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Masco by 6.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 71,907 shares of the construction company’s stock worth $2,805,000 after purchasing an additional 4,436 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Masco in the third quarter worth about $1,128,000. Finally, BT Investment Management Ltd grew its holdings in shares of Masco by 68.8% in the third quarter. BT Investment Management Ltd now owns 39,535 shares of the construction company’s stock worth $1,542,000 after purchasing an additional 16,116 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. Credit Suisse Group restated a “neutral” rating and issued a $46.00 price target (up from $36.00) on shares of Masco in a report on Monday, January 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. cut shares of Masco from an “overweight” rating to a “neutral” rating in a report on Friday, January 5th. Zacks Investment Research cut shares of Masco from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Deutsche Bank upped their price target on shares of Masco from $39.00 to $43.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada set a $46.00 price target on shares of Masco and gave the stock a “buy” rating in a report on Friday, February 9th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Masco currently has an average rating of “Buy” and a consensus target price of $44.60.
Shares of Masco Corp (NYSE MAS) traded down $0.67 during trading on Wednesday, reaching $41.62. 1,222,691 shares of the company’s stock traded hands, compared to its average volume of 3,156,929. Masco Corp has a one year low of $32.97 and a one year high of $46.44. The company has a market cap of $13,309.74, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.07 and a beta of 1.51. The company has a current ratio of 1.97, a quick ratio of 1.49 and a debt-to-equity ratio of 16.87.
Masco (NYSE:MAS) last released its quarterly earnings results on Thursday, February 8th. The construction company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Masco had a net margin of 6.97% and a return on equity of 1,000.81%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $0.33 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. research analysts predict that Masco Corp will post 2.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Friday, January 12th were issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Thursday, January 11th. Masco’s dividend payout ratio is currently 25.45%.
In other news, Director Richard A. Manoogian sold 82,701 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $42.89, for a total value of $3,547,045.89. Following the sale, the director now directly owns 692,102 shares in the company, valued at approximately $29,684,254.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph B. Gross sold 10,203 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $42.95, for a total transaction of $438,218.85. Following the completion of the sale, the insider now owns 51,020 shares in the company, valued at $2,191,309. The disclosure for this sale can be found here. Insiders sold a total of 104,150 shares of company stock worth $4,462,062 over the last 90 days. Company insiders own 1.30% of the company’s stock.
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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