State Treasurer State of Michigan Sells 661,900 Shares of Masco Corp. (MAS)
State Treasurer State of Michigan reduced its position in shares of Masco Corp. (NYSE:MAS) by 85.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,288 shares of the company’s stock after selling 661,900 shares during the period. State Treasurer State of Michigan’s holdings in Masco Corp. were worth $3,956,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of Masco Corp. by 1.7% in the first quarter. Arizona State Retirement System now owns 90,585 shares of the company’s stock worth $2,849,000 after buying an additional 1,500 shares during the last quarter. Patten & Patten Inc. TN acquired a new stake in shares of Masco Corp. during the second quarter worth about $1,190,000. Raymond James Trust N.A. boosted its stake in shares of Masco Corp. by 2.7% in the second quarter. Raymond James Trust N.A. now owns 10,697 shares of the company’s stock worth $331,000 after buying an additional 281 shares during the last quarter. British Columbia Investment Management Corp boosted its stake in shares of Masco Corp. by 2.0% in the second quarter. British Columbia Investment Management Corp now owns 284,393 shares of the company’s stock worth $8,799,000 after buying an additional 5,479 shares during the last quarter. Finally, Daiwa SB Investments Ltd. acquired a new stake in shares of Masco Corp. during the second quarter worth about $717,000. 89.39% of the stock is owned by institutional investors.
Shares of Masco Corp. (NYSE:MAS) traded down 1.68% during mid-day trading on Monday, reaching $32.16. The company had a trading volume of 3,928,171 shares. The firm has a market capitalization of $10.44 billion, a PE ratio of 23.20 and a beta of 1.59. Masco Corp. has a 12-month low of $23.10 and a 12-month high of $37.38. The stock has a 50 day moving average price of $31.92 and a 200 day moving average price of $33.07.
Masco Corp. (NYSE:MAS) last issued its earnings results on Tuesday, October 25th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by $0.03. The company earned $1.88 billion during the quarter, compared to the consensus estimate of $2.88 billion. Masco Corp. had a return on equity of 620.95% and a net margin of 6.40%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. On average, equities analysts forecast that Masco Corp. will post $1.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, October 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, October 12th. This is an increase from Masco Corp.’s previous quarterly dividend of $0.10. Masco Corp.’s dividend payout ratio (DPR) is 28.78%.
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MAS has been the subject of a number of recent research reports. Jefferies Group reissued a “buy” rating on shares of Masco Corp. in a research report on Thursday, August 4th. Bank of America Corp. initiated coverage on shares of Masco Corp. in a research report on Friday, September 23rd. They set a “buy” rating and a $41.00 price objective for the company. Wells Fargo & Co. initiated coverage on shares of Masco Corp. in a research report on Wednesday, September 28th. They set an “outperform” rating for the company. Zacks Investment Research raised shares of Masco Corp. from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, October 4th. 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 for the company in a research report on Wednesday, October 26th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.56.
In other news, Director Lisa A. Payne sold 5,657 shares of Masco Corp. stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $30.11, for a total transaction of $170,332.27. Following the completion of the sale, the director now owns 88,697 shares in the company, valued at approximately $2,670,666.67. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.
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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