Reinhart Partners Inc. boosted its holdings in Masco Corp (NYSE:MAS) by 14.2% in the 4th quarter, Holdings Channel reports. The firm owned 812,982 shares of the construction company’s stock after purchasing an additional 101,228 shares during the period. Masco accounts for about 2.5% of Reinhart Partners Inc.’s investment portfolio, making the stock its 7th biggest holding. Reinhart Partners Inc.’s holdings in Masco were worth $23,772,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Highland Capital Management LLC raised its position in Masco by 1.8% during the 4th quarter. Highland Capital Management LLC now owns 24,201 shares of the construction company’s stock worth $708,000 after buying an additional 430 shares during the last quarter. Granite Investment Advisors LLC raised its position in Masco by 13.8% during the 4th quarter. Granite Investment Advisors LLC now owns 8,250 shares of the construction company’s stock worth $241,000 after buying an additional 1,000 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Masco by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,062 shares of the construction company’s stock worth $441,000 after buying an additional 1,613 shares during the last quarter. FDx Advisors Inc. raised its position in Masco by 20.6% during the 3rd quarter. FDx Advisors Inc. now owns 10,396 shares of the construction company’s stock worth $380,000 after buying an additional 1,774 shares during the last quarter. Finally, Daiwa SB Investments Ltd. raised its position in Masco by 9.2% during the 3rd quarter. Daiwa SB Investments Ltd. now owns 21,450 shares of the construction company’s stock worth $785,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 89.21% of the company’s stock.
In other Masco news, Director Richard A. Manoogian sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $31.30, for a total transaction of $1,565,000.00. Following the sale, the director now directly owns 575,961 shares of the company’s stock, valued at approximately $18,027,579.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard A. O’reagan sold 12,900 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $31.48, for a total transaction of $406,092.00. Following the sale, the insider now directly owns 61,443 shares in the company, valued at $1,934,225.64. The disclosure for this sale can be found here. Insiders have sold a total of 212,900 shares of company stock worth $6,631,092 over the last ninety days. 1.20% of the stock is owned by corporate insiders.
A number of equities analysts have commented on MAS shares. Evercore ISI upgraded shares of Masco from an “in-line” rating to an “outperform” rating in a research report on Monday, October 1st. Goldman Sachs Group started coverage on shares of Masco in a research report on Tuesday, October 2nd. They set a “buy” rating and a $49.00 price objective for the company. Bank of America set a $40.00 price objective on shares of Masco and gave the stock a “hold” rating in a research report on Thursday, October 11th. Longbow Research downgraded shares of Masco from a “buy” rating to a “neutral” rating in a research report on Friday, October 12th. Finally, Zacks Investment Research downgraded shares of Masco from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the stock. Masco currently has an average rating of “Buy” and an average target price of $41.25.
Shares of NYSE MAS opened at $32.22 on Tuesday. The stock has a market capitalization of $9.84 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 0.94 and a beta of 1.45. Masco Corp has a 52 week low of $27.03 and a 52 week high of $46.43. The company has a debt-to-equity ratio of 14.35, a quick ratio of 1.13 and a current ratio of 1.71.
Masco (NYSE:MAS) last issued its quarterly earnings data on Tuesday, October 30th. The construction company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.17 billion. Masco had a net margin of 7.65% and a return on equity of 409.25%. Masco’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. As a group, equities research analysts expect that Masco Corp will post 2.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 11th. Shareholders of record on Friday, January 11th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, January 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.49%. Masco’s dividend payout ratio is currently 24.74%.
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Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.
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