Sumitomo Mitsui Trust Holdings Inc. Has $36.02 Million Position in Masco Corporation (MAS)
Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Masco Corporation (NYSE:MAS) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 942,543 shares of the construction company’s stock after selling 16,883 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of Masco Corporation worth $36,015,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in Masco Corporation by 6.6% in the first quarter. Bank of Montreal Can now owns 189,991 shares of the construction company’s stock worth $6,457,000 after buying an additional 11,775 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Masco Corporation during the first quarter worth approximately $288,000. Candriam Luxembourg S.C.A. boosted its stake in Masco Corporation by 25.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 26,222 shares of the construction company’s stock worth $891,000 after buying an additional 5,312 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Masco Corporation by 2.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,756 shares of the construction company’s stock worth $278,000 after buying an additional 233 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Masco Corporation during the first quarter worth approximately $402,000. 88.48% of the stock is currently owned by institutional investors.
Masco Corporation (MAS) opened at 36.31 on Monday. The firm’s 50-day moving average price is $37.79 and its 200-day moving average price is $36.19. The company has a market cap of $11.45 billion, a PE ratio of 22.46 and a beta of 1.56. Masco Corporation has a 12-month low of $29.38 and a 12-month high of $39.37.
Masco Corporation (NYSE:MAS) last issued its quarterly 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. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $0.46 EPS. Masco Corporation’s revenue was up 2.8% on a year-over-year basis. Equities research analysts forecast that Masco Corporation will post $1.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, July 14th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.10%. Masco Corporation’s dividend payout ratio (DPR) is currently 24.69%.
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A number of research firms recently commented on MAS. Zacks Investment Research cut shares of Masco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. MKM Partners restated a “buy” rating and issued a $44.00 price objective (up previously from $43.00) on shares of Masco Corporation in a research report on Tuesday, August 1st. Barclays PLC upped their price objective on shares of Masco Corporation from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Credit Suisse Group set a $36.00 price objective on shares of Masco Corporation and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, BidaskClub cut shares of Masco Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Masco Corporation presently has an average rating of “Buy” and an average target price of $40.79.
In related news, 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 transaction of $744,433.64. Following the completion of the transaction, the insider now directly owns 91,154 shares of the company’s stock, valued at approximately $3,480,259.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard A. Manoogian sold 29,989 shares of Masco Corporation stock in a transaction dated 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 transaction, the director now directly owns 622,281 shares of the company’s stock, valued at $22,924,832.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,939 shares of company stock valued at $2,020,987. 1.30% of the stock is currently owned by corporate 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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