Argent Capital Management LLC Has $75.29 Million Position in Masco Corp (MAS)
Argent Capital Management LLC lowered its stake in Masco Corp (NYSE:MAS) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,929,912 shares of the construction company’s stock after selling 102,233 shares during the quarter. Masco accounts for 2.9% of Argent Capital Management LLC’s portfolio, making the stock its 7th largest position. Argent Capital Management LLC owned about 0.61% of Masco worth $75,286,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware purchased a new stake in Masco in the second quarter worth approximately $101,000. YorkBridge Wealth Partners LLC boosted its stake in shares of Masco by 4.6% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after acquiring an additional 127 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Masco by 27.6% during the 2nd quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock worth $135,000 after acquiring an additional 763 shares during the last quarter. Fiduciary Trust Co. purchased a new position in shares of Masco during the 2nd quarter worth $166,000. Finally, Kings Point Capital Management boosted its stake in shares of Masco by 50.0% during the 2nd quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock worth $172,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 89.14% of the company’s stock.
In other news, CFO John G. Sznewajs sold 52,511 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $39.83, for a total value of $2,091,513.13. Following the sale, the chief financial officer now directly owns 391,443 shares in the company, valued at approximately $15,591,174.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Renee Straber sold 2,574 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $42.55, for a total transaction of $109,523.70. Following the completion of the sale, the vice president now owns 65,423 shares in the company, valued at $2,783,748.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,227 shares of company stock worth $3,622,549. Insiders own 1.30% of the company’s stock.
Masco (NYSE:MAS) last posted its earnings results on Tuesday, October 24th. The construction company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Masco had a negative return on equity of 7,325.00% and a net margin of 7.23%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. equities analysts anticipate that Masco Corp will post 1.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Friday, October 13th were issued a $0.105 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This is an increase from Masco’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.99%. Masco’s payout ratio is 25.00%.
Several research analysts have recently weighed in on MAS shares. Robert W. Baird lifted their price target on shares of Masco from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Citigroup lifted their price target on shares of Masco from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. FBR & Co reiterated a “buy” rating and set a $46.00 price target (up previously from $43.00) on shares of Masco in a research note on Wednesday, October 25th. Royal Bank of Canada lifted their price target on shares of Masco from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Finally, Zacks Investment Research upgraded shares of Masco from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.88.
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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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