Masco Corporation (MAS) Position Cut by Teacher Retirement System of Texas
Teacher Retirement System of Texas lowered its stake in shares of Masco Corporation (NYSE:MAS) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,742 shares of the construction company’s stock after selling 3,753 shares during the period. Teacher Retirement System of Texas’ holdings in Masco Corporation were worth $4,155,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in Masco Corporation by 1,387.4% in the first quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock valued at $948,149,000 after buying an additional 26,019,679 shares during the last quarter. FMR LLC raised its position in Masco Corporation by 1.2% in the first quarter. FMR LLC now owns 19,095,444 shares of the construction company’s stock valued at $649,054,000 after buying an additional 235,564 shares during the last quarter. Boston Partners raised its position in Masco Corporation by 53.1% in the second quarter. Boston Partners now owns 13,602,650 shares of the construction company’s stock valued at $519,757,000 after buying an additional 4,714,941 shares during the last quarter. Pioneer Investment Management Inc. raised its position in Masco Corporation by 17.6% in the second quarter. Pioneer Investment Management Inc. now owns 7,855,227 shares of the construction company’s stock valued at $300,149,000 after buying an additional 1,175,777 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in Masco Corporation by 11.7% in the second quarter. APG Asset Management N.V. now owns 4,484,628 shares of the construction company’s stock valued at $171,358,000 after buying an additional 470,500 shares during the last quarter. 89.17% of the stock is currently owned by hedge funds and other institutional investors.
Masco Corporation (NYSE:MAS) opened at 37.48 on Thursday. The stock’s 50 day moving average price is $38.10 and its 200-day moving average price is $36.04. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 23.18 and a beta of 1.56. Masco Corporation has a one year low of $29.38 and a one year high of $39.37.
Masco Corporation (NYSE:MAS) last released its earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.07 billion. Masco Corporation had a return on equity of 20,509.09% and a net margin of 7.09%. Masco Corporation’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. Analysts forecast that Masco Corporation will post $1.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, July 14th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Wednesday, July 12th. Masco Corporation’s dividend payout ratio is currently 24.69%.
Several brokerages have weighed in on MAS. Barclays PLC upped their target price on Masco Corporation from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Credit Suisse Group set a $36.00 target price on Masco Corporation and gave the stock a “hold” rating in a research report on Thursday, July 27th. Instinet reaffirmed a “buy” rating and issued a $41.00 target price (up from $39.00) on shares of Masco Corporation in a research report on Friday, May 19th. Robert W. Baird reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Masco Corporation in a research report on Wednesday, May 17th. Finally, Zacks Investment Research raised Masco Corporation from a “sell” rating to a “hold” rating and set a $42.00 target price on the stock in a research report on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $40.79.
In related news, Director Richard A. Manoogian sold 29,989 shares of Masco Corporation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $36.84, for a total value of $1,104,794.76. Following the sale, the director now owns 622,281 shares of the company’s stock, valued at $22,924,832.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard A. O’reagan sold 19,498 shares of Masco Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $38.18, for a total value of $744,433.64. Following the completion of the sale, the insider now directly owns 91,154 shares in the company, valued at approximately $3,480,259.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,262 shares of company stock worth $4,259,573. 1.30% of the stock is owned by company insiders.
Masco Corporation Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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