Atria Investments LLC trimmed its stake in shares of Masco Corp (NYSE:MAS) by 33.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,320 shares of the construction company’s stock after selling 4,684 shares during the quarter. Atria Investments LLC’s holdings in Masco were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Rational Advisors LLC grew its position in Masco by 111.6% during the 2nd quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock worth $26,000 after acquiring an additional 347 shares during the last quarter. Johnson Financial Group Inc. grew its position in Masco by 94.5% during the 2nd quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock worth $27,000 after acquiring an additional 343 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Masco during the 2nd quarter worth approximately $30,000. Redhawk Wealth Advisors Inc. bought a new position in Masco during the 2nd quarter worth approximately $30,000. Finally, Motco bought a new position in Masco during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 90.10% of the company’s stock.
Shares of MAS stock opened at $42.82 on Friday. The firm has a market cap of $12.00 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.90 and a beta of 1.42. Masco Corp has a fifty-two week low of $27.03 and a fifty-two week high of $43.59. The business’s 50 day moving average price is $41.30 and its 200-day moving average price is $39.45. The company has a debt-to-equity ratio of 39.03, a quick ratio of 0.96 and a current ratio of 1.46.
Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. Masco had a return on equity of 792.80% and a net margin of 8.77%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $0.75 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that Masco Corp will post 2.66 EPS for the current year.
Masco announced that its board has authorized a stock buyback plan on Tuesday, September 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 16.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, October 11th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, October 10th. This is a positive change from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a dividend yield of 1.26%. Masco’s payout ratio is currently 19.20%.
In related news, CFO John G. Sznewajs sold 85,473 shares of Masco stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $40.88, for a total transaction of $3,494,136.24. Following the sale, the chief financial officer now directly owns 318,403 shares in the company, valued at $13,016,314.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.17% of the company’s stock.
MAS has been the topic of several recent research reports. Barclays raised their price target on Masco from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Buckingham Research lowered Masco from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $49.00 to $46.00 in a research report on Wednesday, September 18th. SunTrust Banks cut their price objective on Masco from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. TheStreet lowered Masco from a “b” rating to a “c+” rating in a research report on Friday, July 26th. Finally, Argus lifted their price objective on Masco from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $45.40.
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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