American International Group Inc. lessened its stake in shares of Masco Corp (NYSE:MAS) by 9.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,043 shares of the construction company’s stock after selling 16,645 shares during the quarter. American International Group Inc. owned about 0.05% of Masco worth $6,438,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Masco 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 in the last quarter. BlackRock Inc. boosted its position in shares of Masco 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 in the last quarter. FMR LLC boosted its position in shares of Masco 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 in the last quarter. Boston Partners boosted its position in shares of Masco 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 in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Masco 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 in the last quarter. 89.14% of the stock is currently owned by institutional investors.
Shares of Masco Corp (NYSE:MAS) opened at $42.50 on Friday. The company has a debt-to-equity ratio of 49.48, a current ratio of 1.94 and a quick ratio of 1.43. Masco Corp has a fifty-two week low of $30.08 and a fifty-two week high of $43.18. The firm has a market cap of $13,369.01, a PE ratio of 23.10, a P/E/G ratio of 1.32 and a beta of 1.59.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, October 13th were paid a $0.105 dividend. This is a positive change from Masco’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $0.42 annualized dividend and a yield of 0.99%. Masco’s dividend payout ratio (DPR) is 25.00%.
A number of research firms have recently issued reports on MAS. Barclays set a $45.00 price objective on shares of Masco and gave the stock a “buy” rating in a research report on Wednesday, October 25th. FBR & Co restated a “buy” rating and issued a $46.00 target price (up previously from $43.00) on shares of Masco in a report on Wednesday, October 25th. Nomura set a $45.00 target price on shares of Masco and gave the stock a “buy” rating in a report on Wednesday, October 25th. Robert W. Baird upped their target price on shares of Masco from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Finally, Raymond James Financial restated a “market perform” rating on shares of Masco in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Masco currently has a consensus rating of “Buy” and a consensus price target of $42.88.
In other Masco news, VP Kenneth G. Cole sold 2,266 shares of the 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 completion of the sale, the vice president now owns 85,693 shares in the company, valued at approximately $3,201,490.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John G. Sznewajs sold 52,511 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $39.83, for a total transaction of $2,091,513.13. Following the completion of the sale, the chief financial officer now owns 391,443 shares of the company’s stock, valued at approximately $15,591,174.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,990 shares of company stock valued at $3,600,733. Company insiders own 1.30% of the company’s stock.
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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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