Icon Advisers Inc. Co. Continues to Hold Stake in Masco Corporation (MAS)
Icon Advisers Inc. Co. continued to hold its position in shares of Masco Corporation (NYSE:MAS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 338,430 shares of the construction company’s stock at the close of the 2nd quarter. Masco Corporation makes up 0.9% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 18th biggest holding. Icon Advisers Inc. Co. owned about 0.11% of Masco Corporation worth $12,931,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MAS. YorkBridge Wealth Partners LLC raised its position in shares of Masco Corporation by 25.3% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 2,768 shares of the construction company’s stock valued at $102,000 after buying an additional 559 shares during the period. Pathstone Family Office LLC purchased a new stake in shares of Masco Corporation during the 1st quarter valued at approximately $103,000. Trust Co. of Vermont raised its position in shares of Masco Corporation by 4.4% during the 2nd quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock valued at $113,000 after buying an additional 125 shares during the period. Fiduciary Trust Co. purchased a new stake in shares of Masco Corporation during the 2nd quarter valued at approximately $166,000. Finally, Kings Point Capital Management raised its position in shares of Masco Corporation by 50.0% during the 2nd quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock valued at $172,000 after buying an additional 1,500 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.
Masco Corporation (NYSE MAS) traded down 0.800% during mid-day trading on Wednesday, hitting $37.805. The stock had a trading volume of 384,540 shares. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 23.380 and a beta of 1.54. The company has a 50 day moving average price of $37.25 and a 200-day moving average price of $36.46. Masco Corporation has a one year low of $29.38 and a one year high of $39.37.
Masco Corporation (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.60. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.07 billion. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. Masco Corporation’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. Equities analysts expect that Masco Corporation will post $1.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, July 14th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. Masco Corporation’s dividend payout ratio (DPR) is presently 24.69%.
Several analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of 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 shares of 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 shares of 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 assigned a buy rating to the stock. Masco Corporation has a consensus rating of “Buy” and a consensus target price of $40.93.
In other news, VP Renee Straber sold 4,452 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $38.58, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Richard A. O’reagan sold 19,498 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $3,480,259.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,287 shares of company stock worth $1,003,899. 1.30% of the stock is owned by company insiders.
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Masco Corporation 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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