Clinton Group Inc. lessened its position in shares of Masco Corporation (NYSE:MAS) by 77.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,034 shares of the construction company’s stock after selling 34,175 shares during the quarter. Clinton Group Inc.’s holdings in Masco Corporation were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new stake in Masco Corporation in the 2nd quarter valued at $101,000. Pathstone Family Office LLC acquired a new stake in Masco Corporation in the 1st quarter valued at $103,000. YorkBridge Wealth Partners LLC boosted its stake in Masco Corporation by 4.6% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after purchasing an additional 127 shares in the last quarter. Trust Co. of Vermont boosted its stake in Masco Corporation by 4.4% in the second quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock worth $113,000 after purchasing an additional 125 shares in the last quarter. Finally, Fiduciary Trust Co. acquired a new position in Masco Corporation in the second quarter worth $166,000. 88.27% of the stock is currently owned by institutional investors.
A number of research firms have commented on MAS. Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 price objective on shares of Masco Corporation in a research note on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Masco Corporation in a research note on Wednesday, July 19th. Zacks Investment Research lowered Masco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Longbow Research reissued a “buy” rating and issued a $42.00 price objective on shares of Masco Corporation in a research note on Tuesday, July 4th. Finally, BidaskClub downgraded Masco Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.92.
Shares of Masco Corporation (NYSE MAS) opened at 38.90 on Wednesday. The firm has a 50 day moving average price of $37.96 and a 200 day moving average price of $37.23. Masco Corporation has a one year low of $29.38 and a one year high of $39.62. The company has a market capitalization of $12.27 billion, a P/E ratio of 24.06 and a beta of 1.54.
Masco Corporation (NYSE:MAS) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Masco Corporation had a return on equity of 20,509.09% and a net margin of 7.09%. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company posted $0.46 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Masco Corporation will post $1.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, October 13th will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.08%. This is a positive change from Masco Corporation’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, October 12th. Masco Corporation’s payout ratio is presently 25.93%.
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In other Masco Corporation news, insider Richard A. O’reagan sold 19,498 shares of Masco Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $38.18, for a total transaction of $744,433.64. Following the completion of the transaction, the insider now owns 91,154 shares in the company, valued at approximately $3,480,259.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph B. Gross sold 2,337 shares of Masco Corporation stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $37.53, for a total value of $87,707.61. Following the transaction, the insider now owns 56,935 shares of the company’s stock, valued at approximately $2,136,770.55. The disclosure for this sale can be found here. Insiders sold a total of 24,101 shares of company stock valued at $916,799 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
Masco Corporation Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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