Masco Corporation (NYSE:MAS) announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60, Bloomberg Earnings reports. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. Masco Corporation updated its FY17 guidance to $1.93-2.00 EPS.
Shares of Masco Corporation (NYSE:MAS) traded down 1.52% during trading on Tuesday, reaching $37.63. 2,074,787 shares of the company traded hands. The firm has a 50 day moving average of $38.44 and a 200 day moving average of $35.75. Masco Corporation has a 52 week low of $29.38 and a 52 week high of $39.37. The stock has a market capitalization of $11.87 billion, a PE ratio of 23.27 and a beta of 1.56.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, July 14th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, July 12th. This represents a $0.40 annualized dividend and a yield of 1.06%. Masco Corporation’s payout ratio is 24.69%.
A number of analysts have recently weighed in on MAS shares. Nomura started coverage on shares of Masco Corporation in a report on Wednesday, April 12th. They issued a “buy” rating and a $39.00 target price on the stock. Zacks Investment Research downgraded shares of Masco Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Instinet restated a “buy” rating on shares of Masco Corporation in a report on Friday, April 14th. Royal Bank Of Canada restated a “buy” rating on shares of Masco Corporation in a report on Wednesday, April 26th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $43.00 target price (up from $39.00) on shares of Masco Corporation in a report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Masco Corporation presently has an average rating of “Buy” and a consensus target price of $40.79.
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In related news, Director Richard A. Manoogian sold 60,323 shares of Masco Corporation stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $37.11, for a total value of $2,238,586.53. Following the completion of the transaction, the director now owns 622,281 shares in the company, valued at $23,092,847.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Manoogian sold 61,340 shares of Masco Corporation stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $36.99, for a total transaction of $2,268,966.60. Following the completion of the transaction, the director now owns 716,885 shares of the company’s stock, valued at approximately $26,517,576.15. The disclosure for this sale can be found here. Insiders sold 175,602 shares of company stock valued at $6,528,540 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Masco Corporation by 1,387.4% in the first quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock worth $948,149,000 after buying an additional 26,019,679 shares during the period. Boston Partners boosted its position in shares of Masco Corporation by 53.1% in the second quarter. Boston Partners now owns 13,602,650 shares of the construction company’s stock worth $519,757,000 after buying an additional 4,714,941 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Masco Corporation during the first quarter worth $105,662,000. Marshall Wace North America L.P. acquired a new position in shares of Masco Corporation during the first quarter worth $105,662,000. Finally, APG Asset Management N.V. boosted its position in shares of Masco Corporation by 66.4% in the first quarter. APG Asset Management N.V. now owns 4,014,128 shares of the construction company’s stock worth $136,440,000 after buying an additional 1,601,824 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.
About Masco Corporation
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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