Greenwood Capital Associates LLC Sells 744 Shares of Masco Corporation (MAS)
Greenwood Capital Associates LLC reduced its stake in shares of Masco Corporation (NYSE:MAS) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,815 shares of the construction company’s stock after selling 744 shares during the period. Greenwood Capital Associates LLC’s holdings in Masco Corporation were worth $337,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MAS. Genesee Valley Trust Co. raised its position in shares of Masco Corporation by 2.0% in the first quarter. Genesee Valley Trust Co. now owns 10,335 shares of the construction company’s stock valued at $351,000 after buying an additional 202 shares during the period. Advisors Asset Management Inc. raised its position in shares of Masco Corporation by 12.8% in the first quarter. Advisors Asset Management Inc. now owns 46,026 shares of the construction company’s stock valued at $1,564,000 after buying an additional 5,234 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Masco Corporation by 57.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,241 shares of the construction company’s stock valued at $348,000 after buying an additional 3,741 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Masco Corporation by 1.6% in the first quarter. Great West Life Assurance Co. Can now owns 340,167 shares of the construction company’s stock valued at $11,551,000 after buying an additional 5,344 shares during the period. Finally, Kornitzer Capital Management Inc. KS acquired a new position in shares of Masco Corporation during the first quarter valued at about $4,224,000. 88.48% of the stock is currently owned by institutional investors.
Shares of Masco Corporation (NYSE MAS) opened at 36.37 on Thursday. The company has a 50 day moving average of $37.79 and a 200-day moving average of $36.19. The firm has a market capitalization of $11.47 billion, a P/E ratio of 22.49 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 released its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. Masco Corporation had a return on equity of 20,509.09% and a net margin of 7.09%. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. Analysts predict that Masco Corporation will post $1.97 EPS for the current year.
The company 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 annualized dividend and a dividend yield of 1.10%. Masco Corporation’s dividend payout ratio is presently 24.69%.
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Several research analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Masco Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $36.00 target price on the stock. Zacks Investment Research lowered shares of Masco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $43.00 target price on shares of Masco Corporation in a research note on Tuesday, July 18th. BidaskClub raised shares of Masco Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Masco Corporation in a research note on Wednesday, July 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Masco Corporation presently has an average rating of “Buy” and an average price target of $40.93.
In related news, VP Renee Straber sold 4,452 shares of Masco Corporation stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $38.58, for a total transaction of $171,758.16. Following the sale, the vice president now directly owns 65,961 shares in the company, valued at $2,544,775.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. O’reagan sold 19,498 shares of Masco Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.18, for a total value of $744,433.64. Following the sale, the insider now owns 91,154 shares in the company, valued at $3,480,259.72. The disclosure for this sale can be found here. 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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