Louisiana State Employees Retirement System decreased its position in shares of Masco Corp. (NYSE:MAS) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,800 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Masco Corp. were worth $674,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in Masco Corp. by 1.8% in the first quarter. Bessemer Group Inc. now owns 3,334 shares of the company’s stock worth $105,000 after buying an additional 58 shares in the last quarter. IFP Advisors Inc raised its position in Masco Corp. by 203.8% in the first quarter. IFP Advisors Inc now owns 3,904 shares of the company’s stock worth $123,000 after buying an additional 2,619 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in Masco Corp. during the second quarter worth about $213,000. Reynolds Capital Management LLC purchased a new position in Masco Corp. during the first quarter worth about $214,000. Finally, ING Groep NV raised its position in Masco Corp. by 2.4% in the first quarter. ING Groep NV now owns 7,669 shares of the company’s stock worth $241,000 after buying an additional 180 shares during the last quarter. Institutional investors and hedge funds own 91.63% of the company’s stock.
Shares of Masco Corp. (NYSE:MAS) traded down 0.60% during trading on Thursday, hitting $33.36. 2,326,758 shares of the company’s stock were exchanged. Masco Corp. has a 1-year low of $23.10 and a 1-year high of $37.38. The stock’s 50-day moving average price is $34.28 and its 200-day moving average price is $33.07. The stock has a market cap of $10.88 billion, a PE ratio of 25.33 and a beta of 1.83.
Masco Corp. (NYSE:MAS) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Masco Corp. had a net margin of 6.12% and a return on equity of 780.00%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Masco Corp. will post $1.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Friday, October 14th will be issued a $0.10 dividend. This is an increase from Masco Corp.’s previous quarterly dividend of $0.10. This represents a $0.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Wednesday, October 12th. Masco Corp.’s payout ratio is currently 29.01%.
A number of research analysts recently issued reports on the stock. RBC Capital Markets reiterated an “outperform” rating and issued a $41.00 target price (up from $35.00) on shares of Masco Corp. in a research note on Wednesday, July 27th. FBR & Co raised their target price on shares of Masco Corp. from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Royal Bank Of Canada raised their target price on shares of Masco Corp. from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Jefferies Group raised their target price on shares of Masco Corp. from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, Citigroup Inc. raised their target price on shares of Masco Corp. from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $35.53.
In related news, VP Kenneth G. Cole sold 3,609 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $37.23, for a total value of $134,363.07. Following the transaction, the vice president now directly owns 79,192 shares in the company, valued at $2,948,318.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Plant sold 7,000 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $36.54, for a total transaction of $255,780.00. Following the completion of the transaction, the director now owns 19,534 shares in the company, valued at $713,772.36. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company 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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