Algert Global LLC bought a new position in shares of Masco Corp (NYSE:MAS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,922 shares of the construction company’s stock, valued at approximately $1,128,000.
Other hedge funds have also modified their holdings of the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Masco during the 2nd quarter worth approximately $101,000. YorkBridge Wealth Partners LLC raised its stake in shares of Masco by 4.6% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after buying an additional 127 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Masco by 27.6% during the 2nd quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock worth $135,000 after buying an additional 763 shares in the last quarter. Fiduciary Trust Co. purchased a new position in shares of Masco during the 2nd quarter worth approximately $166,000. Finally, Kings Point Capital Management raised its stake in shares of Masco by 50.0% during the 2nd quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock worth $172,000 after buying an additional 1,500 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on MAS. B. Riley reissued a “buy” rating on shares of Masco in a research note on Wednesday, November 1st. Barclays set a $45.00 price target on Masco and gave the stock a “buy” rating in a report on Wednesday, October 25th. FBR & Co restated a “buy” rating and issued a $46.00 price target (up previously from $43.00) on shares of Masco in a report on Wednesday, October 25th. Citigroup upped their price target on Masco from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Nomura set a $45.00 price target on Masco and gave the stock a “buy” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $43.07.
Masco (NYSE:MAS) last announced its earnings results on Tuesday, October 24th. The construction company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Masco had a net margin of 7.23% and a negative return on equity of 7,325.00%. Masco’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. analysts expect that Masco Corp will post 1.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, January 11th. Masco’s dividend payout ratio (DPR) is presently 25.00%.
In other Masco news, VP Renee Straber sold 2,574 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $42.55, for a total transaction of $109,523.70. Following the sale, the vice president now owns 65,423 shares in the company, valued at approximately $2,783,748.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kenneth G. Cole sold 2,266 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total value of $84,657.76. Following the sale, the vice president now owns 85,693 shares in the company, valued at approximately $3,201,490.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,227 shares of company stock worth $3,622,549. 1.30% of the stock is owned by insiders.
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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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