Shell Asset Management Co. boosted its position in shares of Masco Corp. (NYSE:MAS) by 22.4% during the second quarter, Holdings Channel reports. The fund owned 24,654 shares of the company’s stock after buying an additional 4,509 shares during the period. Shell Asset Management Co.’s holdings in Masco Corp. were worth $763,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MAS. BlackRock Institutional Trust Company N.A. boosted its position 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 worth $392,329,000 after buying an additional 700,344 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Masco Corp. during the first quarter worth approximately $10,532,000. BlackRock Group LTD boosted its position 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 worth $117,661,000 after buying an additional 331,328 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Masco Corp. by 11.2% in the first quarter. Pictet Asset Management Ltd. now owns 3,043,469 shares of the company’s stock worth $85,825,000 after buying an additional 307,038 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Masco Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 2,635,785 shares of the company’s stock worth $82,720,000 after buying an additional 19,254 shares during the last quarter. 91.63% of the stock is owned by institutional investors and hedge funds.
Masco Corp. (NYSE:MAS) traded down 4.07% on Friday, reaching $33.51. The company had a trading volume of 8,533,031 shares. Masco Corp. has a 52-week low of $23.10 and a 52-week high of $37.38. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 25.44 and a beta of 1.83. The stock’s 50-day moving average price is $34.44 and its 200 day moving average price is $33.01.
Masco Corp. (NYSE:MAS) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company earned $2 billion during the quarter, compared to the consensus estimate of $2 billion. Masco Corp. had a return on equity of 780.00% and a net margin of 6.12%. Masco Corp.’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, equities analysts anticipate that Masco Corp. will post $1.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Friday, October 14th will be issued 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 yield of 1.19%. Masco Corp.’s payout ratio is 29.01%.
Several equities research analysts recently commented on MAS shares. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $34.00 price target on shares of Masco Corp. in a report on Wednesday, June 29th. MKM Partners reaffirmed a “hold” rating on shares of Masco Corp. in a report on Wednesday, July 27th. Jefferies Group reaffirmed a “buy” rating on shares of Masco Corp. in a report on Thursday, August 4th. Citigroup Inc. increased their price target 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 increased their price target on Masco Corp. from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $35.53.
In other Masco Corp. news, Director Richard A. Manoogian sold 44,008 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 818,711 shares in the company, valued at approximately $30,030,319.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John G. Sznewajs sold 19,353 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $37.22, for a total value of $720,318.66. Following the completion of the transaction, the chief financial officer now owns 295,979 shares of the company’s stock, valued at $11,016,338.38. 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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