Korea Investment CORP reduced its stake in shares of Masco Corporation (NYSE:MAS) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 516,594 shares of the construction company’s stock after selling 6,600 shares during the period. Korea Investment CORP owned 0.16% of Masco Corporation worth $20,152,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Masco Corporation by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 31,207,284 shares of the construction company’s stock worth $1,192,431,000 after purchasing an additional 778,320 shares during the last quarter. BlackRock Inc. raised its position in shares of Masco Corporation by 9.9% during the 2nd quarter. BlackRock Inc. now owns 30,658,112 shares of the construction company’s stock worth $1,171,447,000 after purchasing an additional 2,763,057 shares during the last quarter. FMR LLC raised its position in shares of Masco Corporation by 7.5% during the 2nd quarter. FMR LLC now owns 20,535,390 shares of the construction company’s stock worth $784,657,000 after purchasing an additional 1,439,946 shares during the last quarter. Boston Partners raised its position in shares of Masco Corporation by 53.1% during the 2nd quarter. Boston Partners now owns 13,602,650 shares of the construction company’s stock worth $519,757,000 after purchasing an additional 4,714,941 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Masco Corporation by 31.3% during the 2nd quarter. Northern Trust Corp now owns 8,246,426 shares of the construction company’s stock worth $315,096,000 after purchasing an additional 1,963,938 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.
Shares of Masco Corporation (MAS) opened at 40.16 on Monday. Masco Corporation has a 52 week low of $29.38 and a 52 week high of $41.10. The stock has a market capitalization of $12.67 billion, a PE ratio of 24.84 and a beta of 1.54. The stock’s 50 day moving average is $38.72 and its 200 day moving average is $37.61.
Masco Corporation (NYSE:MAS) last released its earnings results on Tuesday, October 24th. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Masco Corporation had a negative return on equity of 7,325.00% and a net margin of 7.23%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts anticipate that Masco Corporation will post $1.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, October 13th will be given a $0.105 dividend. This is an increase from Masco Corporation’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.42 dividend on an annualized basis and a yield of 1.05%. Masco Corporation’s dividend payout ratio is presently 25.00%.
MAS has been the subject of several research reports. Longbow Research restated a “buy” rating and set a $42.00 price objective on shares of Masco Corporation in a research report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $43.00 target price on shares of Masco Corporation in a research note on Tuesday, July 18th. Zacks Investment Research cut shares of Masco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Masco Corporation in a research note on Wednesday, July 19th. Finally, BidaskClub cut shares of Masco Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $42.71.
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In other Masco Corporation news, CFO John G. Sznewajs sold 52,511 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now 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 can be accessed through this link. Also, VP John P. Lindow sold 17,026 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $40.07, for a total transaction of $682,231.82. Following the completion of the sale, the vice president now owns 101,681 shares of the company’s stock, valued at approximately $4,074,357.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,638 shares of company stock valued at $3,690,544. Insiders own 1.30% of the company’s stock.
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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