Atom Investors LP purchased a new stake in shares of Masco Corp (NYSE:MAS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,097 shares of the construction company’s stock, valued at approximately $3,068,000.
Several other large investors have also recently added to or reduced their stakes in the company. Harwood Advisory Group LLC purchased a new position in shares of Masco during the first quarter worth $34,000. Ovata Capital Management Ltd purchased a new stake in shares of Masco in the second quarter worth about $35,000. Ropes Wealth Advisors LLC grew its holdings in Masco by 61.2% during the second quarter. Ropes Wealth Advisors LLC now owns 882 shares of the construction company’s stock worth $44,000 after acquiring an additional 335 shares during the period. WASHINGTON TRUST Co purchased a new position in Masco during the first quarter valued at approximately $50,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Masco in the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 89.68% of the company’s stock.
In other news, insider Richard A. O’reagan sold 46,247 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $57.12, for a total transaction of $2,641,628.64. Following the sale, the insider now owns 82,300 shares of the company’s stock, valued at $4,700,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Renee Straber sold 49,447 shares of Masco stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $57.22, for a total transaction of $2,829,357.34. Following the completion of the transaction, the vice president now owns 78,300 shares of the company’s stock, valued at approximately $4,480,326. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,940 shares of company stock valued at $5,533,286. Company insiders own 1.23% of the company’s stock.
Shares of MAS traded down $0.74 during mid-day trading on Friday, reaching $56.42. The stock had a trading volume of 1,510,815 shares, compared to its average volume of 1,476,673. Masco Corp has a 52-week low of $27.04 and a 52-week high of $60.10. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 1.40 and a beta of 1.51. The business’s fifty day moving average is $56.75 and its 200 day moving average is $46.29. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.50 and a quick ratio of 1.15.
Masco (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.13. Masco had a net margin of 19.23% and a negative return on equity of 1,729.19%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm earned $0.88 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Masco Corp will post 2.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Friday, July 10th were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Thursday, July 9th. Masco’s dividend payout ratio (DPR) is presently 24.00%.
MAS has been the subject of several recent research reports. Deutsche Bank lifted their target price on shares of Masco from $54.00 to $64.00 and gave the company a “buy” rating in a report on Friday, July 31st. Robert W. Baird upped their price objective on shares of Masco from $45.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Raymond James cut Masco from a “strong-buy” rating to a “market perform” rating and set a $52.00 target price on the stock. in a research report on Friday, May 29th. Royal Bank of Canada increased their price target on Masco from $40.00 to $51.00 in a research report on Wednesday, June 17th. Finally, SunTrust Banks boosted their price objective on Masco from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $52.69.
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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