First American Trust FSB raised its holdings in Masco Corp (NYSE:MAS) by 2.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 89,589 shares of the construction company’s stock after acquiring an additional 2,200 shares during the quarter. First American Trust FSB’s holdings in Masco were worth $3,734,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of MAS. Cambridge Investment Research Advisors Inc. grew its position in shares of Masco by 12.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,431 shares of the construction company’s stock valued at $528,000 after acquiring an additional 1,481 shares during the period. Advisor Group Inc. grew its position in shares of Masco by 4.9% in the 1st quarter. Advisor Group Inc. now owns 27,230 shares of the construction company’s stock valued at $1,070,000 after acquiring an additional 1,272 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Masco in the 1st quarter valued at about $97,000. AlphaCrest Capital Management LLC bought a new position in shares of Masco in the 1st quarter valued at about $438,000. Finally, State of Tennessee Treasury Department grew its position in shares of Masco by 28.0% in the 1st quarter. State of Tennessee Treasury Department now owns 101,301 shares of the construction company’s stock valued at $3,982,000 after acquiring an additional 22,132 shares during the period. Hedge funds and other institutional investors own 90.10% of the company’s stock.
In other Masco 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 transaction of $3,494,136.24. Following the sale, the chief financial officer now directly owns 318,403 shares of the company’s stock, valued at approximately $13,016,314.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.17% of the company’s stock.
MAS stock traded down $0.12 during trading on Thursday, reaching $41.87. 57,124 shares of the company were exchanged, compared to its average volume of 3,305,228. The company has a 50-day moving average of $41.20 and a two-hundred day moving average of $39.41. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.94 and a beta of 1.42. Masco Corp has a twelve month low of $27.03 and a twelve month high of $43.59. The company has a debt-to-equity ratio of 39.03, a current ratio of 1.46 and a quick ratio of 0.96.
Masco (NYSE:MAS) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. Masco had a net margin of 8.77% and a return on equity of 792.80%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts forecast that Masco Corp will post 2.66 EPS for the current year.
Masco announced that its board has authorized a share buyback program on Tuesday, September 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 16.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Masco’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, October 10th. Masco’s payout ratio is presently 19.20%.
A number of research analysts have recently commented on the stock. TheStreet downgraded shares of Masco from a “b” rating to a “c+” rating in a research report on Friday, July 26th. SunTrust Banks reduced their target price on shares of Masco from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Robert W. Baird reduced their target price 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 target price on shares of Masco and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Masco from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price 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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