Aperio Group LLC lowered its stake in shares of Masco Corp (NYSE:MAS) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 173,799 shares of the construction company’s stock after selling 2,180 shares during the quarter. Aperio Group LLC owned approximately 0.06% of Masco worth $6,361,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Highland Capital Management LLC grew its holdings in Masco by 28.8% during the 3rd quarter. Highland Capital Management LLC now owns 23,771 shares of the construction company’s stock worth $870,000 after acquiring an additional 5,311 shares during the last quarter. Iowa State Bank grew its holdings in Masco by 4.7% during the 3rd quarter. Iowa State Bank now owns 47,753 shares of the construction company’s stock worth $1,748,000 after acquiring an additional 2,135 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in Masco by 39.8% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 897,743 shares of the construction company’s stock worth $32,857,000 after acquiring an additional 255,710 shares during the last quarter. First Hawaiian Bank bought a new stake in Masco during the 3rd quarter worth about $251,000. Finally, PGGM Investments grew its holdings in Masco by 0.5% during the 3rd quarter. PGGM Investments now owns 540,903 shares of the construction company’s stock worth $19,797,000 after acquiring an additional 2,603 shares during the last quarter. 89.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on MAS. ValuEngine raised shares of Masco from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Cfra restated a “buy” rating and set a $46.00 target price on shares of Masco in a research report on Sunday, August 5th. Citigroup upped their target price on shares of Masco from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Evercore ISI upgraded shares of Masco from an “in-line” rating to an “outperform” rating in a research report on Monday, October 1st. Finally, Cleveland Research restated a “hold” rating on shares of Masco in a research report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Masco has an average rating of “Buy” and a consensus target price of $45.44.
Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, October 30th. The construction company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.05). The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.17 billion. Masco had a net margin of 7.41% and a return on equity of 490.27%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, analysts forecast that Masco Corp will post 2.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Friday, October 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.63%. This is an increase from Masco’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, October 11th. Masco’s dividend payout ratio (DPR) is currently 24.74%.
In related news, insider Joseph B. Gross sold 1,286 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $39.91, for a total value of $51,324.26. Following the sale, the insider now directly owns 48,740 shares in the company, valued at approximately $1,945,213.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John G. Sznewajs sold 96,869 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $38.95, for a total transaction of $3,773,047.55. Following the completion of the sale, the chief financial officer now owns 237,578 shares in the company, valued at $9,253,663.10. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.
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