Concert Wealth Management Inc. increased its stake in shares of Masco Corp. (NYSE:MAS) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 14,897 shares of the company’s stock after buying an additional 594 shares during the period. Concert Wealth Management Inc.’s holdings in Masco Corp. were worth $458,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. LMR Partners LLP increased its position in shares of Masco Corp. by 178.0% in the second quarter. LMR Partners LLP now owns 72,348 shares of the company’s stock valued at $2,239,000 after buying an additional 46,327 shares during the period. Emerald Advisers Inc. PA increased its position in shares of Masco Corp. by 5.5% in the second quarter. Emerald Advisers Inc. PA now owns 87,436 shares of the company’s stock valued at $2,705,000 after buying an additional 4,567 shares during the period. Huntington National Bank increased its position in shares of Masco Corp. by 2,859.0% in the second quarter. Huntington National Bank now owns 472,961 shares of the company’s stock valued at $14,633,000 after buying an additional 456,977 shares during the period. First National Trust Co. increased its position in shares of Masco Corp. by 1.2% in the second quarter. First National Trust Co. now owns 21,323 shares of the company’s stock valued at $660,000 after buying an additional 243 shares during the period. Finally, ING Groep NV increased its position in shares of Masco Corp. by 53.8% in the second quarter. ING Groep NV now owns 11,794 shares of the company’s stock valued at $365,000 after buying an additional 4,125 shares during the period. Institutional investors own 91.63% of the company’s stock.
Shares of Masco Corp. (NYSE:MAS) traded down 0.57% on Thursday, hitting $33.37. The company’s stock had a trading volume of 1,338,786 shares. The stock’s 50-day moving average price is $34.28 and its 200-day moving average price is $33.07. Masco Corp. has a 52 week low of $23.10 and a 52 week high of $37.38. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 25.34 and a beta of 1.83.
Masco Corp. (NYSE:MAS) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Masco Corp. had a return on equity of 780.00% and a net margin of 6.12%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts expect that Masco Corp. will post $1.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Wednesday, October 12th. This is a boost from Masco Corp.’s previous quarterly dividend of $0.10. Masco Corp.’s dividend payout ratio is 29.01%.
Several equities analysts have commented on the company. Zacks Investment Research upgraded Masco Corp. from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, October 4th. Wells Fargo & Co. assumed coverage on Masco Corp. in a report on Wednesday, September 28th. They set an “outperform” rating on the stock. Bank of America Corp. started coverage on Masco Corp. in a report on Friday, September 23rd. They set a “buy” rating and a $41.00 price target on the stock. Jefferies Group restated a “buy” rating on shares of Masco Corp. in a research note on Thursday, August 4th. Finally, Citigroup Inc. raised their price objective on shares of Masco Corp. from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $35.53.
In related news, Director Richard A. Manoogian sold 44,008 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $36.68, for a total value of $1,614,213.44. Following the sale, the director now owns 818,711 shares in the company, valued at approximately $30,030,319.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kenneth G. Cole sold 3,609 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $37.23, for a total value of $134,363.07. Following the completion of the sale, the vice president now owns 79,192 shares in the company, valued at approximately $2,948,318.16. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
About Masco Corp.
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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