First Mercantile Trust Co. decreased its position in Masco Corp (NYSE:MAS) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,800 shares of the construction company’s stock after selling 250 shares during the quarter. First Mercantile Trust Co.’s holdings in Masco were worth $325,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MAS. Rational Advisors LLC grew its position in Masco by 111.6% in the second quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock valued at $26,000 after acquiring an additional 347 shares in the last quarter. Johnson Financial Group Inc. lifted its stake in Masco by 94.5% in the second quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock valued at $27,000 after buying an additional 343 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in Masco in the second quarter valued at $30,000. Redhawk Wealth Advisors Inc. bought a new stake in Masco in the second quarter valued at $30,000. Finally, Usca Ria LLC bought a new stake in Masco in the third quarter valued at $32,000. 91.40% of the stock is owned by institutional investors.
In related news, CFO John G. Sznewajs sold 85,473 shares of Masco stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total transaction of $3,494,136.24. Following the sale, the chief financial officer now directly owns 318,403 shares in the company, valued at $13,016,314.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard A. O’reagan sold 11,125 shares of Masco stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $45.85, for a total transaction of $510,081.25. Following the sale, the insider now owns 43,278 shares in the company, valued at $1,984,296.30. The disclosure for this sale can be found here. 1.17% of the stock is owned by insiders.
Shares of NYSE MAS opened at $46.30 on Friday. Masco Corp has a fifty-two week low of $27.03 and a fifty-two week high of $46.95. The firm’s 50-day simple moving average is $43.39 and its 200 day simple moving average is $40.14. The company has a quick ratio of 0.98, a current ratio of 1.46 and a debt-to-equity ratio of 120.48. The stock has a market cap of $13.32 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.49 and a beta of 1.46.
Masco (NYSE:MAS) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). Masco had a net margin of 8.27% and a return on equity of 1,500.49%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Masco’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Masco Corp will post 2.54 earnings per share for the current fiscal year.
Masco announced that its Board of Directors has authorized a share repurchase plan on Tuesday, September 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 16.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, October 11th will be paid a dividend of $0.135 per share. This is a boost from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, October 10th. Masco’s payout ratio is currently 21.60%.
A number of equities research analysts have issued reports on MAS shares. Buckingham Research cut Masco from a “buy” rating to a “neutral” rating and cut their target price for the company from $49.00 to $46.00 in a research note on Wednesday, September 18th. Zelman & Associates cut Masco from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Barclays raised their target price on Masco from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. TheStreet upgraded Masco from a “c+” rating to a “b-” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their target price on Masco from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Masco has an average rating of “Buy” and an average price target of $46.75.
Masco Company Profile
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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