Manchester Capital Management LLC held its stake in shares of Masco Corporation (NYSE:MAS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,731 shares of the construction company’s stock at the close of the second quarter. Manchester Capital Management LLC’s holdings in Masco Corporation were worth $104,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. raised its position in Masco Corporation by 1,387.4% in the 1st quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock valued at $948,149,000 after purchasing an additional 26,019,679 shares during the last quarter. FMR LLC raised its position in Masco Corporation by 1.2% in the 1st quarter. FMR LLC now owns 19,095,444 shares of the construction company’s stock valued at $649,054,000 after purchasing an additional 235,564 shares during the last quarter. Boston Partners raised its position in Masco Corporation by 53.1% in the 2nd quarter. Boston Partners now owns 13,602,650 shares of the construction company’s stock valued at $519,757,000 after purchasing an additional 4,714,941 shares during the last quarter. Pioneer Investment Management Inc. increased its stake in shares of Masco Corporation by 17.6% in the 2nd quarter. Pioneer Investment Management Inc. now owns 7,855,227 shares of the construction company’s stock valued at $300,149,000 after buying an additional 1,175,777 shares during the period. Finally, APG Asset Management N.V. increased its stake in shares of Masco Corporation by 11.7% in the 2nd quarter. APG Asset Management N.V. now owns 4,484,628 shares of the construction company’s stock valued at $171,358,000 after buying an additional 470,500 shares during the period. Hedge funds and other institutional investors own 88.38% of the company’s stock.
In other Masco Corporation news, VP Kenneth G. Cole sold 2,266 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $37.36, for a total transaction of $84,657.76. Following the completion of the sale, the vice president now directly owns 85,693 shares in the company, valued at approximately $3,201,490.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph B. Gross sold 2,337 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $37.53, for a total value of $87,707.61. Following the sale, the insider now owns 56,935 shares of the company’s stock, valued at $2,136,770.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,101 shares of company stock valued at $916,799. Company insiders own 1.30% of the company’s stock.
Masco Corporation (NYSE MAS) opened at 38.09 on Friday. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 23.56 and a beta of 1.54. Masco Corporation has a 12-month low of $29.38 and a 12-month high of $39.37. The firm’s 50-day moving average price is $37.16 and its 200 day moving average price is $36.60.
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, meeting the Zacks’ consensus estimate of $0.60. Masco Corporation had a return on equity of 20,509.09% and a net margin of 7.09%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the business posted $0.46 earnings per share. Masco Corporation’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that Masco Corporation will post $1.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.105 per share. This is an increase from Masco Corporation’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a yield of 1.10%. Masco Corporation’s dividend payout ratio (DPR) is presently 24.69%.
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Several research firms have recently commented on MAS. Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 target price 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 target price on shares of Masco Corporation in a research note on Wednesday, July 19th. BidaskClub cut Masco Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised Masco Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Friday, July 21st. Finally, Longbow Research reissued a “buy” rating and issued a $42.00 target price on shares of Masco Corporation in a research note on Tuesday, July 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Masco Corporation presently has a consensus rating of “Buy” and an average price target of $40.93.
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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