Huntington National Bank increased its stake in Masco Corp. (NYSE:MAS) by 2,859.0% during the second quarter, Holdings Channel reports. The firm owned 472,961 shares of the company’s stock after buying an additional 456,977 shares during the period. Huntington National Bank’s holdings in Masco Corp. were worth $14,633,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Masco Corp. by 203.8% in the first quarter. IFP Advisors Inc now owns 3,904 shares of the company’s stock valued at $123,000 after buying an additional 2,619 shares during the period. Ngam Advisors L.P. raised its stake in shares of Masco Corp. by 2.9% in the first quarter. Ngam Advisors L.P. now owns 25,136 shares of the company’s stock valued at $791,000 after buying an additional 714 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Masco Corp. by 9.7% in the first quarter. BlackRock Group LTD now owns 3,741,189 shares of the company’s stock valued at $117,661,000 after buying an additional 331,328 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Masco Corp. by 5.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 12,474,699 shares of the company’s stock valued at $392,329,000 after buying an additional 700,344 shares during the last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in shares of Masco Corp. by 11.6% in the first quarter. BlackRock Japan Co. Ltd now owns 703,901 shares of the company’s stock valued at $22,138,000 after buying an additional 72,895 shares during the last quarter. 91.63% of the stock is currently owned by hedge funds and other institutional investors.
Masco Corp. (NYSE:MAS) traded up 1.373% during midday trading on Wednesday, reaching $33.585. The company’s stock had a trading volume of 2,140,848 shares. The stock has a market capitalization of $10.96 billion, a PE ratio of 25.501 and a beta of 1.83. Masco Corp. has a 52 week low of $23.10 and a 52 week high of $37.38. The firm’s 50-day moving average price is $34.34 and its 200-day moving average price is $33.06.
Masco Corp. (NYSE:MAS) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2 billion. Masco Corp. had a return on equity of 780.00% and a net margin of 6.12%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, analysts anticipate that Masco Corp. will post $1.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 14th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Masco Corp.’s previous quarterly dividend of $0.10. Masco Corp.’s dividend payout ratio is currently 29.01%.
MAS has been the topic of several research analyst reports. Credit Suisse Group AG reissued a “buy” rating and issued a $34.00 price objective on shares of Masco Corp. in a report on Wednesday, June 29th. MKM Partners reissued a “hold” rating on shares of Masco Corp. in a report on Wednesday, July 27th. Jefferies Group reissued a “buy” rating on shares of Masco Corp. in a report on Thursday, August 4th. Citigroup Inc. raised their price objective on Masco Corp. from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Royal Bank Of Canada raised their price objective on Masco Corp. from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Masco Corp. currently has a consensus rating of “Buy” and an average target price of $35.53.
In related news, Director Richard A. Manoogian sold 44,008 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $36.68, for a total value of $1,614,213.44. Following the sale, the director now owns 818,711 shares in the company, valued at approximately $30,030,319.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard A. Manoogian sold 35,244 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $36.30, for a total value of $1,279,357.20. Following the completion of the sale, the director now owns 765,739 shares in the company, valued at approximately $27,796,325.70. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate 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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