Castleark Management LLC Buys Shares of 12,500 Masco Corporation (MAS)
Castleark Management LLC bought a new stake in Masco Corporation (NYSE:MAS) during the second quarter, according to its most recent filing with the SEC. The firm bought 12,500 shares of the construction company’s stock, valued at approximately $478,000.
Other large investors have also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware acquired a new position in Masco Corporation in the 2nd quarter valued at $101,000. Pathstone Family Office LLC acquired a new position in Masco Corporation in the 1st quarter valued at $103,000. YorkBridge Wealth Partners LLC grew its stake in Masco Corporation by 4.6% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock valued at $110,000 after buying an additional 127 shares during the last quarter. Trust Co. of Vermont grew its stake in Masco Corporation by 4.4% in 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 last quarter. Finally, Fiduciary Trust Co. acquired a new position in Masco Corporation in the 2nd quarter valued at $166,000. Institutional investors and hedge funds own 88.27% of the company’s stock.
In related news, VP Kenneth G. Cole sold 2,266 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total value of $84,657.76. Following the transaction, the vice president now directly owns 85,693 shares in the company, valued at $3,201,490.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard A. O’reagan sold 19,498 shares of the company’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 completion of the transaction, 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. Over the last quarter, insiders sold 24,101 shares of company stock worth $916,799. Corporate insiders own 1.30% of the company’s stock.
Masco Corporation (MAS) traded up 0.33% during mid-day trading on Tuesday, reaching $39.09. 114,996 shares of the company’s stock traded hands. Masco Corporation has a 1-year low of $29.38 and a 1-year high of $39.62. The firm has a 50 day moving average of $37.96 and a 200 day moving average of $37.23. The firm has a market cap of $12.33 billion, a PE ratio of 24.17 and a beta of 1.54.
Masco Corporation (NYSE:MAS) last released its quarterly earnings data on Thursday, July 27th. The construction company reported $0.60 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 for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts forecast that Masco Corporation will post $1.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, October 13th will be issued a $0.105 dividend. This is an increase from Masco Corporation’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, October 12th. Masco Corporation’s payout ratio is currently 25.93%.
A number of research analysts recently issued reports on MAS shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $43.00 target price on shares of Masco Corporation in a research note on Tuesday, July 18th. Longbow Research reiterated a “buy” rating and issued a $42.00 target price on shares of Masco Corporation in a research note on Tuesday, July 4th. Zacks Investment Research upgraded shares of Masco Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Friday, July 21st. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Masco Corporation in a research note on Wednesday, July 19th. Finally, MKM Partners reiterated a “buy” rating and issued a $44.00 target price (up from $43.00) on shares of Masco Corporation in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $40.92.
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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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