Great Valley Advisor Group Inc. boosted its holdings in Masco Corp (NYSE:MAS) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,710 shares of the construction company’s stock after purchasing an additional 466 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Masco were worth $405,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Ballentine Partners LLC acquired a new stake in Masco in the 2nd quarter worth about $219,000. ELCO Management Co. LLC raised its stake in Masco by 30.7% in the 2nd quarter. ELCO Management Co. LLC now owns 8,823 shares of the construction company’s stock worth $346,000 after purchasing an additional 2,072 shares in the last quarter. Mackenzie Financial Corp raised its stake in Masco by 340.9% in the 2nd quarter. Mackenzie Financial Corp now owns 49,140 shares of the construction company’s stock worth $1,928,000 after purchasing an additional 37,994 shares in the last quarter. Ancora Advisors LLC raised its stake in Masco by 19.2% in the 2nd quarter. Ancora Advisors LLC now owns 219,054 shares of the construction company’s stock worth $8,596,000 after purchasing an additional 35,292 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in Masco by 92.8% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 173,594 shares of the construction company’s stock worth $7,997,000 after purchasing an additional 83,554 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.
Several analysts have weighed in on the stock. Royal Bank of Canada set a $45.00 price objective on shares of Masco and gave the stock a “buy” rating in a research note on Friday, July 26th. SunTrust Banks dropped their price objective on shares of Masco from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Bank of America dropped their price objective on shares of Masco from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Buckingham Research cut shares of Masco from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $49.00 to $46.00 in a research note on Wednesday, September 18th. Finally, Argus lifted their price objective on shares of Masco from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $45.53.
Shares of NYSE:MAS opened at $44.56 on Tuesday. The firm has a 50 day moving average of $42.53 and a 200-day moving average of $39.82. The stock has a market capitalization of $12.79 billion, a PE ratio of 17.82, a PEG ratio of 2.02 and a beta of 1.42. The company has a current ratio of 1.46, a quick ratio of 0.96 and a debt-to-equity ratio of 39.03. Masco Corp has a 12 month low of $27.03 and a 12 month high of $45.06.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, October 11th will be given a $0.135 dividend. The ex-dividend date is Thursday, October 10th. This is a boost from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a dividend yield of 1.21%. Masco’s payout ratio is presently 21.60%.
Masco declared that its Board of Directors has approved a stock repurchase plan on Tuesday, September 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 16.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, CFO John G. Sznewajs sold 85,473 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total value of $3,494,136.24. Following the completion of the transaction, the chief financial officer now directly owns 318,403 shares in the company, valued at approximately $13,016,314.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.17% of the stock is currently owned by insiders.
Masco Company Profile
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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