Daiwa SB Investments Ltd. increased its stake in Masco Corp (NYSE:MAS) by 80.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,770 shares of the construction company’s stock after purchasing an additional 11,060 shares during the period. Daiwa SB Investments Ltd.’s holdings in Masco were worth $1,088,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Masco by 2.6% in 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 by 9.9% during the 2nd quarter. BlackRock Inc. now owns 30,658,112 shares of the construction company’s stock valued at $1,171,447,000 after acquiring an additional 2,763,057 shares during the last quarter. FMR LLC raised 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 valued at $784,657,000 after acquiring an additional 1,439,946 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Masco by 6.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,065,004 shares of the construction company’s stock valued at $506,663,000 after acquiring an additional 763,078 shares during the last quarter. Finally, Northern Trust Corp raised 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 valued at $315,096,000 after acquiring an additional 1,963,938 shares during the last quarter. Hedge funds and other institutional investors own 88.93% of the company’s stock.
MAS has been the subject of several recent research reports. B. Riley reiterated a “buy” rating on shares of Masco in a research report on Wednesday, November 1st. Argus upped their target price on shares of Masco from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Barclays set a $45.00 target price on shares of Masco and gave the company a “buy” rating in a research report on Wednesday, October 25th. FBR & Co reiterated a “buy” rating and set a $46.00 target price (up previously from $43.00) on shares of Masco in a research report on Wednesday, October 25th. Finally, Nomura set a $45.00 target price on shares of Masco and gave the company a “buy” rating in a research report on Wednesday, October 25th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $43.47.
Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). Masco had a net margin of 7.23% and a negative return on equity of 7,325.00%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm earned $0.41 EPS. Masco’s quarterly revenue was up 3.1% on a year-over-year basis. sell-side analysts expect that Masco Corp will post 1.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Stockholders of record on Friday, January 12th will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, January 11th. Masco’s dividend payout ratio (DPR) is 24.85%.
In other news, VP John P. Lindow sold 17,026 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now owns 101,681 shares of the company’s stock, valued at approximately $4,074,357.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John G. Sznewajs sold 52,511 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly 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. Insiders sold a total of 88,961 shares of company stock valued at $3,537,891 in the last three months. 1.30% of the stock is owned by company insiders.
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Masco 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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