PineBridge Investments L.P. lowered its stake in shares of Masco Corp. (NYSE:MAS) by 37.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,145 shares of the company’s stock after selling 5,444 shares during the period. PineBridge Investments L.P.’s holdings in Masco Corp. were worth $283,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in MAS. Dynamic Technology Lab Private Ltd purchased a new stake in Masco Corp. during the second quarter valued at approximately $239,000. Westpac Banking Corp raised its stake in Masco Corp. by 16.0% in the second quarter. Westpac Banking Corp now owns 387,675 shares of the company’s stock valued at $10,683,000 after buying an additional 53,381 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in Masco Corp. by 2,074.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 42,928 shares of the company’s stock valued at $1,328,000 after buying an additional 40,954 shares during the last quarter. Vanguard Group Inc. raised its stake in Masco Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 32,237,461 shares of the company’s stock valued at $997,428,000 after buying an additional 1,181,962 shares during the last quarter. Finally, Hutchens Investment Management Inc raised its stake in Masco Corp. by 44.3% in the second quarter. Hutchens Investment Management Inc now owns 51,000 shares of the company’s stock valued at $1,577,000 after buying an additional 15,650 shares during the last quarter. 91.63% of the stock is owned by institutional investors and hedge funds.
Masco Corp. (NYSE:MAS) opened at 34.33 on Friday. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 26.07 and a beta of 1.92. Masco Corp. has a 12 month low of $23.10 and a 12 month high of $37.38. The stock’s 50 day moving average price is $35.00 and its 200-day moving average price is $32.66.
Masco Corp. (NYSE:MAS) last posted its earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm earned $2 billion during 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 firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. Equities research analysts predict that Masco Corp. will post $1.56 EPS for the current year.
Several equities analysts have recently issued reports on MAS shares. Bank of America Corp. started coverage on shares of Masco Corp. in a report on Friday. They set a “buy” rating on the stock. Jefferies Group restated a “buy” rating on shares of Masco Corp. in a report on Thursday, August 4th. Citigroup Inc. upped their price objective on shares of Masco Corp. from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Deutsche Bank AG upped their price objective on shares of Masco Corp. from $28.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, July 28th. Finally, RBC Capital Markets restated an “outperform” rating and set a $41.00 price objective (up previously from $35.00) on shares of Masco Corp. in a report on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Masco Corp. currently has an average rating of “Buy” and an average target price of $35.38.
In other Masco Corp. news, VP Kenneth G. Cole sold 3,609 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $37.23, for a total value of $134,363.07. Following the completion of the sale, the vice president now owns 79,192 shares in the company, valued at $2,948,318.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christopher K. Kastner sold 4,085 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $36.53, for a total value of $149,225.05. The disclosure for this sale can be found here. 1.70% of the stock is owned by company 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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