Twin Capital Management Inc. Purchases Shares of 42,730 Masco Corporation (MAS)
Twin Capital Management Inc. purchased a new position in Masco Corporation (NYSE:MAS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 42,730 shares of the construction company’s stock, valued at approximately $1,633,000.
Other large investors have also added to or reduced their stakes in the company. Advisor Partners LLC acquired a new stake in Masco Corporation during the first quarter worth approximately $240,000. Arrow Financial Corp raised its stake in Masco Corporation by 0.4% in the first quarter. Arrow Financial Corp now owns 98,377 shares of the construction company’s stock worth $3,343,000 after buying an additional 393 shares in the last quarter. Central Bank & Trust Co. raised its stake in Masco Corporation by 10.1% in the first quarter. Central Bank & Trust Co. now owns 251,287 shares of the construction company’s stock worth $8,539,000 after buying an additional 22,994 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Masco Corporation by 11.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,788 shares of the construction company’s stock worth $944,000 after buying an additional 2,933 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its stake in Masco Corporation by 95.2% in the first quarter. Emerald Advisers Inc. PA now owns 91,187 shares of the construction company’s stock worth $3,099,000 after buying an additional 44,465 shares in the last quarter. 89.17% of the stock is currently owned by institutional investors.
Masco Corporation (MAS) opened at 36.31 on Friday. The firm has a 50-day moving average price of $37.79 and a 200-day moving average price of $36.19. The company has a market capitalization of $11.45 billion, a P/E ratio of 22.46 and a beta of 1.56. Masco Corporation has a 1-year low of $29.38 and a 1-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 the Thomson Reuters’ consensus estimate of $0.60. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business earned $0.46 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that Masco Corporation will post $1.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, July 14th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.10%. Masco Corporation’s payout ratio is 24.69%.
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A number of research firms have recently commented on MAS. Credit Suisse Group began coverage on Masco Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating and a $36.00 price target on the stock. Zacks Investment Research lowered Masco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $43.00 price target on shares of Masco Corporation in a research report on Tuesday, July 18th. BidaskClub raised Masco Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Masco Corporation in a research report on Wednesday, July 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $40.79.
In other news, Director Richard A. Manoogian sold 29,989 shares of Masco Corporation stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $36.84, for a total transaction of $1,104,794.76. Following the completion of the transaction, the director now directly owns 622,281 shares in the company, valued at $22,924,832.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Renee Straber sold 4,452 shares of Masco Corporation stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $38.58, for a total transaction of $171,758.16. Following the transaction, the vice president now owns 65,961 shares of the company’s stock, valued at $2,544,775.38. The disclosure for this sale can be found here. Insiders have sold 53,939 shares of company stock valued at $2,020,987 over the last quarter. Company insiders own 1.30% of the company’s stock.
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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