First Trust Advisors LP Buys 79,946 Shares of Masco Corporation (MAS)
First Trust Advisors LP grew its stake in shares of Masco Corporation (NYSE:MAS) by 129.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,628 shares of the construction company’s stock after purchasing an additional 79,946 shares during the quarter. First Trust Advisors LP’s holdings in Masco Corporation were worth $5,525,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. KBC Group NV increased its position in shares of Masco Corporation by 12.5% during the second quarter. KBC Group NV now owns 38,066 shares of the construction company’s stock worth $1,454,000 after acquiring an additional 4,223 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of Masco Corporation by 19.4% during the second quarter. State of Tennessee Treasury Department now owns 199,990 shares of the construction company’s stock worth $7,642,000 after acquiring an additional 32,532 shares during the last quarter. Calamos Advisors LLC increased its position in shares of Masco Corporation by 29.1% during the second quarter. Calamos Advisors LLC now owns 989,188 shares of the construction company’s stock worth $37,797,000 after acquiring an additional 223,177 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Masco Corporation during the second quarter worth about $10,508,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Masco Corporation during the second quarter worth about $2,824,000. Institutional investors own 89.53% of the company’s stock.
In other news, insider Joseph B. Gross sold 2,337 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $37.53, for a total transaction of $87,707.61. Following the completion of the transaction, the insider now directly owns 56,935 shares of the company’s stock, valued at $2,136,770.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John P. Lindow sold 17,026 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $40.07, for a total value of $682,231.82. Following the transaction, the vice president now directly owns 101,681 shares of the company’s stock, valued at $4,074,357.67. The disclosure for this sale can be found here. Insiders have sold 90,990 shares of company stock valued at $3,600,733 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Masco Corporation (NYSE MAS) opened at $38.81 on Thursday. The company has a market capitalization of $12,280.63, a P/E ratio of 21.22, a PEG ratio of 1.21 and a beta of 1.56. Masco Corporation has a fifty-two week low of $30.08 and a fifty-two week high of $41.10. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 49.48.
Masco Corporation (NYSE:MAS) last posted its earnings results on Tuesday, October 24th. The construction company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Masco Corporation had a net margin of 7.23% and a negative return on equity of 7,325.00%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. sell-side analysts predict that Masco Corporation will post 1.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Friday, October 13th were issued a dividend of $0.105 per share. The ex-dividend date of this dividend was Thursday, October 12th. This is a positive change from Masco Corporation’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a dividend yield of 1.08%. Masco Corporation’s dividend payout ratio is 25.00%.
A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their target price on Masco Corporation from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Wells Fargo & Company lowered Masco Corporation from an “outperform” rating to a “market perform” rating and set a $44.00 target price on the stock. in a research report on Wednesday, October 25th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Masco Corporation in a research report on Wednesday, October 25th. Robert W. Baird lifted their target price on Masco Corporation from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Finally, Nomura set a $45.00 target price on Masco Corporation and gave the stock a “buy” rating in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Masco Corporation presently has an average rating of “Buy” and an average price target of $42.88.
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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