LMR Partners LLP boosted its position in Masco Corp. (NYSE:MAS) by 178.0% during the second quarter, Holdings Channel reports. The institutional investor owned 72,348 shares of the company’s stock after buying an additional 46,327 shares during the period. LMR Partners LLP’s holdings in Masco Corp. were worth $2,239,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in MAS. Bessemer Group Inc. boosted its position in Masco Corp. by 1.8% in the first quarter. Bessemer Group Inc. now owns 3,334 shares of the company’s stock worth $105,000 after buying an additional 58 shares during the last quarter. IFP Advisors Inc boosted its position in Masco Corp. by 203.8% in the first quarter. IFP Advisors Inc now owns 3,904 shares of the company’s stock worth $123,000 after buying an additional 2,619 shares during the last quarter. Reynolds Capital Management LLC bought a new position in Masco Corp. during the first quarter worth $214,000. YHB Investment Advisors Inc. bought a new position in Masco Corp. during the second quarter worth $213,000. Finally, ING Groep NV boosted its position in Masco Corp. by 2.4% in the first quarter. ING Groep NV now owns 7,669 shares of the company’s stock worth $241,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 91.63% of the company’s stock.
Masco Corp. (NYSE:MAS) traded up 2.02% on Thursday, reaching $34.93. 2,788,878 shares of the company’s stock were exchanged. Masco Corp. has a 1-year low of $23.10 and a 1-year high of $37.38. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 26.52 and a beta of 1.83. The stock’s 50 day moving average price is $34.50 and its 200 day moving average price is $32.98.
Masco Corp. (NYSE:MAS) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Masco Corp. had a net margin of 6.12% and a return on equity of 780.00%. The company earned $2 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts expect that Masco Corp. will post $1.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Friday, October 14th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, October 12th. This is an increase from Masco Corp.’s previous quarterly dividend of $0.10. This represents a $0.40 annualized dividend and a dividend yield of 1.15%. Masco Corp.’s dividend payout ratio is 29.01%.
A number of research firms recently weighed in on MAS. Zacks Investment Research raised shares of Masco Corp. from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, July 27th. Deutsche Bank AG increased their price objective on shares of Masco Corp. from $28.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Wells Fargo & Co. began coverage on shares of Masco Corp. in a research report on Wednesday, September 28th. They set an “outperform” rating for the company. Jefferies Group increased their price objective on shares of Masco Corp. from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Finally, FBR & Co increased their price objective on shares of Masco Corp. from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $35.53.
In other news, Director Richard A. Manoogian sold 35,244 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $36.30, for a total value of $1,279,357.20. Following the completion of the transaction, the director now directly owns 765,739 shares in the company, valued at $27,796,325.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kenneth G. Cole sold 3,609 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $37.23, for a total transaction of $134,363.07. Following the completion of the transaction, the vice president now owns 79,192 shares of the company’s stock, valued at $2,948,318.16. The disclosure for this sale can be found here. 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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