Earnest Partners LLC lowered its stake in Masco Corporation (NYSE:MAS) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,206,346 shares of the construction company’s stock after selling 28,190 shares during the quarter. Earnest Partners LLC owned about 0.38% of Masco Corporation worth $46,094,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of MAS. BlackRock Inc. lifted its stake in shares of Masco Corporation by 1,387.4% in the 1st quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock valued at $948,149,000 after purchasing an additional 26,019,679 shares during the period. Boston Partners lifted its stake in shares of Masco Corporation by 53.1% in the 2nd quarter. Boston Partners now owns 13,602,650 shares of the construction company’s stock valued at $519,757,000 after purchasing an additional 4,714,941 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Masco Corporation in the 1st quarter valued at $105,662,000. Marshall Wace North America L.P. acquired a new position in shares of Masco Corporation in the 1st quarter valued at $105,662,000. Finally, AJO LP lifted its stake in shares of Masco Corporation by 1,209.7% in the 2nd quarter. AJO LP now owns 3,165,592 shares of the construction company’s stock valued at $120,957,000 after purchasing an additional 2,923,889 shares during the period. 88.38% of the stock is currently owned by institutional investors.
Shares of Masco Corporation (MAS) traded up 0.64% on Friday, reaching $39.23. 1,755,644 shares of the company’s stock traded hands. The company’s 50-day moving average price is $37.58 and its 200 day moving average price is $37.00. Masco Corporation has a one year low of $29.38 and a one year high of $39.62. The firm has a market cap of $12.37 billion, a P/E ratio of 24.26 and a beta of 1.54.
Masco Corporation (NYSE:MAS) last posted its earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Masco Corporation will post $1.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, October 13th will be paid a $0.105 dividend. The ex-dividend date is Thursday, October 12th. This is a boost from Masco Corporation’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 1.07%. Masco Corporation’s dividend payout ratio is currently 24.69%.
In other news, VP Kenneth G. Cole sold 2,266 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total transaction of $84,657.76. Following the sale, the vice president now owns 85,693 shares in the company, valued at approximately $3,201,490.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard A. O’reagan sold 19,498 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.18, for a total transaction of $744,433.64. Following the sale, the insider now owns 91,154 shares in the company, valued at approximately $3,480,259.72. The disclosure for this sale can be found here. Insiders sold a total of 24,101 shares of company stock worth $916,799 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
Several analysts recently commented on MAS shares. BidaskClub raised Masco Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Credit Suisse Group began coverage on Masco Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $36.00 price target on the stock. Longbow Research reissued a “buy” rating and issued a $42.00 price target on shares of Masco Corporation in a research note on Tuesday, July 4th. Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 price target on shares of Masco Corporation in a research note on Tuesday, July 18th. Finally, Zacks Investment Research downgraded Masco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Masco Corporation currently has an average rating of “Buy” and an average price target of $40.92.
Masco Corporation Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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