Masco Corp. (MAS) Shares Sold by Renaissance Investment Group LLC
Renaissance Investment Group LLC cut its position in Masco Corp. (NYSE:MAS) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,074 shares of the company’s stock after selling 2,797 shares during the period. Masco Corp. comprises approximately 2.5% of Renaissance Investment Group LLC’s portfolio, making the stock its 15th largest position. Renaissance Investment Group LLC’s holdings in Masco Corp. were worth $5,114,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in MAS. Gulf International Bank UK Ltd raised its stake in shares of Masco Corp. by 1.7% in the third quarter. Gulf International Bank UK Ltd now owns 104,718 shares of the company’s stock worth $3,592,000 after buying an additional 1,700 shares in the last quarter. Genesee Valley Trust Co. acquired a new stake in shares of Masco Corp. during the third quarter worth approximately $274,000. Patten & Patten Inc. TN raised its stake in shares of Masco Corp. by 142.3% in the third quarter. Patten & Patten Inc. TN now owns 93,225 shares of the company’s stock worth $3,199,000 after buying an additional 54,750 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Masco Corp. by 61.5% in the third quarter. Nisa Investment Advisors LLC now owns 49,683 shares of the company’s stock worth $1,705,000 after buying an additional 18,915 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Masco Corp. by 0.6% in the third quarter. Capstone Asset Management Co. now owns 47,483 shares of the company’s stock worth $1,629,000 after buying an additional 280 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Masco Corp. (NYSE:MAS) traded down 1.68% during trading on Monday, hitting $32.16. 3,924,212 shares of the stock traded hands. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 23.20 and a beta of 1.59. The stock has a 50 day moving average price of $31.92 and a 200-day moving average price of $33.07. Masco Corp. has a 1-year low of $23.10 and a 1-year high of $37.38.
Masco Corp. (NYSE:MAS) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.03. Masco Corp. had a net margin of 6.40% and a return on equity of 620.95%. The business earned $1.88 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $0.34 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that Masco Corp. will post $1.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, October 14th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 12th. This represents a $0.40 annualized dividend and a yield of 1.22%. This is an increase from Masco Corp.’s previous quarterly dividend of $0.10. Masco Corp.’s dividend payout ratio (DPR) is presently 28.78%.
A number of analysts have recently commented on the stock. Evercore ISI assumed coverage on shares of Masco Corp. in a research report on Monday, November 14th. They issued a “buy” rating and a $40.00 price objective on the stock. Jefferies Group cut their price objective on shares of Masco Corp. from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. MKM Partners raised shares of Masco Corp. from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $40.00 to $36.00 in a research report on Wednesday, October 26th. RBC Capital Markets reissued a “buy” rating and issued a $37.00 price objective (down previously from $41.00) on shares of Masco Corp. in a research report on Wednesday, October 26th. Finally, Royal Bank Of Canada cut their price objective on shares of Masco Corp. from $41.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $35.56.
In related news, Director Lisa A. Payne sold 5,657 shares of Masco Corp. stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $30.11, for a total value of $170,332.27. Following the completion of the sale, the director now owns 88,697 shares of the company’s stock, valued at approximately $2,670,666.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Masco Corp. Company Profile
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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