New England Research & Management Inc. purchased a new position in shares of Masco Corp (NYSE:MAS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,950 shares of the construction company’s stock, valued at approximately $248,000.
Other large investors have also modified their holdings of the company. Rational Advisors LLC grew its holdings in Masco by 111.6% during the second quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock valued at $26,000 after purchasing an additional 347 shares during the period. Johnson Financial Group Inc. grew its holdings in Masco by 94.5% during the second quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock valued at $27,000 after purchasing an additional 343 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in Masco during the second quarter valued at approximately $30,000. Usca Ria LLC acquired a new position in Masco during the third quarter valued at approximately $32,000. Finally, TRUE Private Wealth Advisors acquired a new position in Masco during the second quarter valued at approximately $30,000. Institutional investors own 91.40% of the company’s stock.
MAS traded up $0.07 during trading on Friday, reaching $46.30. The company had a trading volume of 1,199,828 shares, compared to its average volume of 3,353,776. The company has a debt-to-equity ratio of 120.48, a current ratio of 1.46 and a quick ratio of 0.98. Masco Corp has a 12 month low of $27.03 and a 12 month high of $46.95. The business’s fifty day moving average price is $43.39 and its 200 day moving average price is $40.14. The company has a market cap of $13.32 billion, a P/E ratio of 18.52, a PEG ratio of 2.49 and a beta of 1.46.
Masco (NYSE:MAS) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.01). Masco had a net margin of 8.27% and a return on equity of 1,500.49%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.61 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Masco Corp will post 2.54 EPS for the current fiscal year.
Masco declared that its Board of Directors has authorized a share buyback plan on Tuesday, September 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 16.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, October 11th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.54 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Masco’s previous quarterly dividend of $0.12. Masco’s payout ratio is presently 21.60%.
In other Masco news, insider Richard A. O’reagan sold 11,125 shares of Masco stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $45.85, for a total value of $510,081.25. Following the transaction, the insider now owns 43,278 shares of the company’s stock, valued at $1,984,296.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John G. Sznewajs sold 85,473 shares of Masco stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total transaction 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 disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.
A number of research analysts recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Masco from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Royal Bank of Canada set a $45.00 price objective on shares of Masco and gave the company a “buy” rating in a report on Friday, July 26th. Buckingham Research cut shares of Masco from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $49.00 to $46.00 in a report on Wednesday, September 18th. Raymond James set a $50.00 price objective on shares of Masco and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Zelman & Associates cut shares of Masco from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $46.75.
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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