Traders Sell Shares of Masco Corp. (MAS) on Strength (MAS)
Investors sold shares of Masco Corp. (NYSE:MAS) on strength during trading on Thursday. $30.47 million flowed into the stock on the tick-up and $50.30 million flowed out of the stock on the tick-down, for a money net flow of $19.83 million out of the stock. Of all companies tracked, Masco Corp. had the 0th highest net out-flow for the day. Masco Corp. traded up $0.43 for the day and closed at $36.87
Several research firms have issued reports on MAS. Citigroup Inc. lifted their price target on shares of Masco Corp. from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday. RBC Capital Markets reissued an “outperform” rating and set a $41.00 price objective (up from $35.00) on shares of Masco Corp. in a report on Wednesday. Deutsche Bank AG boosted their price objective on shares of Masco Corp. from $28.00 to $31.00 and gave the company a “hold” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Masco Corp. from $34.50 to $39.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank Of Canada boosted their price objective on shares of Masco Corp. from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $35.38.
The firm has a 50-day moving average of $32.39 and a 200-day moving average of $30.31. The company has a market capitalization of $11.90 billion and a PE ratio of 27.70.
Masco Corp. (NYSE:MAS) last posted its earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. The company earned $2 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the business earned $0.38 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts forecast that Masco Corp. will post $1.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Friday, July 8th will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, July 6th.
In related news, VP Christopher K. Kastner sold 4,085 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $36.53, for a total value of $149,225.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kenneth G. Cole sold 3,609 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $37.23, for a total transaction of $134,363.07. Following the completion of the transaction, the vice president now directly owns 79,192 shares in the company, valued at $2,948,318.16. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the stock. Trexquant Investment LP bought a new position in Masco Corp. during the fourth quarter worth approximately $1,121,000. BP PLC acquired a new position in shares of Masco Corp. during the fourth quarter valued at about $1,132,000. Advisors Asset Management Inc. increased its position in shares of Masco Corp. by 0.6% in the fourth quarter. Advisors Asset Management Inc. now owns 40,396 shares of the company’s stock valued at $1,143,000 after buying an additional 260 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of Masco Corp. by 4.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 45,648 shares of the company’s stock valued at $1,292,000 after buying an additional 1,860 shares during the last quarter. Finally, Utah Retirement Systems increased its position in shares of Masco Corp. by 0.3% in the fourth quarter. Utah Retirement Systems now owns 62,481 shares of the company’s stock valued at $1,768,000 after buying an additional 200 shares during the last quarter.
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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