CI Investments Inc. Has $12.47 Million Position in Masco Corporation (MAS)
CI Investments Inc. increased its holdings in Masco Corporation (NYSE:MAS) by 9.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,300 shares of the construction company’s stock after buying an additional 28,400 shares during the period. CI Investments Inc. owned 0.10% of Masco Corporation worth $12,468,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MAS. Janney Montgomery Scott LLC bought a new position in Masco Corporation in the 1st quarter worth approximately $402,000. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Masco Corporation by 11.8% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,788 shares of the construction company’s stock valued at $944,000 after purchasing an additional 2,933 shares during the period. Commerzbank Aktiengesellschaft FI boosted its holdings in Masco Corporation by 57.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 10,241 shares of the construction company’s stock valued at $348,000 after purchasing an additional 3,741 shares during the period. Advisors Asset Management Inc. boosted its holdings in Masco Corporation by 12.8% in the 1st quarter. Advisors Asset Management Inc. now owns 46,026 shares of the construction company’s stock valued at $1,564,000 after purchasing an additional 5,234 shares during the period. Finally, Henderson Group PLC boosted its holdings in Masco Corporation by 2.8% in the 1st quarter. Henderson Group PLC now owns 48,368 shares of the construction company’s stock valued at $1,645,000 after purchasing an additional 1,300 shares during the period. 88.49% of the stock is owned by institutional investors.
Several brokerages have commented on MAS. Royal Bank Of Canada reissued a “buy” rating and issued a $43.00 price target on shares of Masco Corporation in a report on Wednesday, May 31st. Longbow Research reissued a “buy” rating and issued a $42.00 price target on shares of Masco Corporation in a report on Tuesday, July 4th. BidaskClub raised shares of Masco Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Robert W. Baird reissued a “buy” rating and issued a $42.00 price target on shares of Masco Corporation in a report on Monday, August 28th. Finally, MKM Partners reissued a “buy” rating and issued a $43.00 price target (up from $40.00) on shares of Masco Corporation in a report on Friday, May 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $40.93.
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In other Masco Corporation news, VP Renee Straber sold 4,452 shares of the firm’s stock in a transaction dated 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 approximately $2,544,775.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard A. O’reagan sold 19,498 shares of the firm’s 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 transaction, 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. Company insiders own 1.30% of the company’s stock.
Shares of Masco Corporation (NYSE MAS) traded up 1.54% during trading on Friday, reaching $37.57. 2,322,349 shares of the company were exchanged. The stock’s 50 day moving average is $37.27 and its 200 day moving average is $36.40. Masco Corporation has a 1-year low of $29.38 and a 1-year high of $39.37. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 23.23 and a beta of 1.54.
Masco Corporation (NYSE:MAS) last posted its earnings results on Thursday, July 27th. The construction company reported $0.60 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 net margin of 7.09% and a return on equity of 20,509.09%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Equities analysts anticipate that Masco Corporation will post $1.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, July 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Wednesday, July 12th. Masco Corporation’s dividend payout ratio (DPR) is 24.69%.
About Masco Corporation
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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