Mastrapasqua Asset Management Inc. lessened its stake in shares of Masco Co. (NYSE:MAS – Get Rating) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,486 shares of the construction company’s stock after selling 2,110 shares during the period. Mastrapasqua Asset Management Inc.’s holdings in Masco were worth $2,626,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MAS. Confluence Wealth Services Inc. acquired a new stake in Masco during the fourth quarter worth about $31,000. Steph & Co. bought a new position in shares of Masco in the fourth quarter worth about $38,000. Old North State Trust LLC grew its holdings in shares of Masco by 194.7% during the 4th quarter. Old North State Trust LLC now owns 896 shares of the construction company’s stock valued at $63,000 after purchasing an additional 592 shares during the last quarter. Moors & Cabot Inc. acquired a new position in Masco during the 3rd quarter worth approximately $64,000. Finally, Quent Capital LLC bought a new position in Masco in the 4th quarter valued at approximately $71,000. 93.76% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. Wells Fargo & Company cut their target price on Masco from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 21st. Bank of America lowered Masco from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $75.00 to $55.00 in a research note on Monday, April 11th. JPMorgan Chase & Co. decreased their target price on shares of Masco from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. StockNews.com upgraded shares of Masco from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Loop Capital lowered their target price on shares of Masco from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Wednesday, April 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Masco has a consensus rating of “Moderate Buy” and an average target price of $65.33.
Masco (NYSE:MAS – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The construction company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.07. Masco had a return on equity of 3,870.83% and a net margin of 6.38%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the business earned $0.89 EPS. The business’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Masco Co. will post 4.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 13th. Shareholders of record on Friday, May 27th were given a $0.28 dividend. The ex-dividend date was Thursday, May 26th. This represents a $1.12 annualized dividend and a yield of 2.17%. Masco’s dividend payout ratio is currently 49.34%.
In related news, CEO Keith J. Allman sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $49.88, for a total value of $498,800.00. Following the sale, the chief executive officer now directly owns 298,295 shares in the company, valued at approximately $14,878,954.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 7,000 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $56.38, for a total transaction of $394,660.00. Following the transaction, the director now owns 10,160 shares of the company’s stock, valued at approximately $572,820.80. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
About Masco (Get Rating)
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.
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