Masco Corp (MAS) Shares Sold by Crossmark Global Holdings Inc.
Crossmark Global Holdings Inc. cut its position in shares of Masco Corp (NYSE:MAS) by 1.5% in the first quarter, HoldingsChannel reports. The firm owned 21,714 shares of the construction company’s stock after selling 341 shares during the period. Crossmark Global Holdings Inc.’s holdings in Masco were worth $854,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MAS. CSat Investment Advisory L.P. increased its holdings in shares of Masco by 97.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 930 shares of the construction company’s stock valued at $27,000 after acquiring an additional 460 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Masco by 59.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,118 shares of the construction company’s stock valued at $33,000 after acquiring an additional 418 shares during the period. Private Capital Group LLC increased its holdings in shares of Masco by 333.3% in the 4th quarter. Private Capital Group LLC now owns 1,794 shares of the construction company’s stock valued at $52,000 after acquiring an additional 1,380 shares during the period. Clean Yield Group purchased a new position in shares of Masco in the 4th quarter valued at $58,000. Finally, Essex Savings Bank purchased a new position in shares of Masco in the 4th quarter valued at $58,000. 91.10% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on MAS. Robert W. Baird set a $50.00 price target on Masco and gave the company a “buy” rating in a report on Monday, April 22nd. Bank of America reiterated a “buy” rating and issued a $56.00 price target (up from $43.00) on shares of Masco in a report on Monday, May 6th. Barclays restated a “buy” rating and set a $39.00 target price on shares of Masco in a research note on Sunday, February 10th. Credit Suisse Group restated a “hold” rating and set a $34.00 target price on shares of Masco in a research note on Thursday, February 7th. Finally, Zacks Investment Research upgraded Masco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $44.33.
Masco (NYSE:MAS) last issued its quarterly earnings results on Thursday, April 25th. The construction company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.03). Masco had a return on equity of 675.68% and a net margin of 8.40%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that Masco Corp will post 2.67 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, April 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.27%. Masco’s dividend payout ratio is currently 19.20%.
In other news, CFO John G. Sznewajs sold 165,248 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $39.92, for a total value of $6,596,700.16. Following the completion of the transaction, the chief financial officer now owns 398,178 shares of the company’s stock, valued at approximately $15,895,265.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kenneth G. Cole sold 23,161 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $40.03, for a total value of $927,134.83. Following the completion of the transaction, the vice president now directly owns 96,843 shares of the company’s stock, valued at approximately $3,876,625.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 298,940 shares of company stock valued at $11,890,269. 1.17% of the stock is currently owned by insiders.
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Masco Company Profile
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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