Principal Financial Group Inc. Boosts Stake in Masco Corp. (MAS)
Principal Financial Group Inc. raised its stake in Masco Corp. (NYSE:MAS) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 992,124 shares of the company’s stock after buying an additional 112,416 shares during the period. Principal Financial Group Inc. owned 0.30% of Masco Corp. worth $30,696,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of MAS. Bessemer Group Inc. increased its position in shares of Masco Corp. by 1.8% in the first quarter. Bessemer Group Inc. now owns 3,334 shares of the company’s stock valued at $105,000 after buying an additional 58 shares during the last quarter. IFP Advisors Inc increased its position in shares of Masco Corp. by 203.8% in the first quarter. IFP Advisors Inc now owns 3,904 shares of the company’s stock valued at $123,000 after buying an additional 2,619 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Masco Corp. during the second quarter valued at about $174,000. Reynolds Capital Management LLC acquired a new position in shares of Masco Corp. during the first quarter valued at about $214,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Masco Corp. during the second quarter valued at about $213,000. 91.63% of the stock is currently owned by institutional investors.
Masco Corp. (NYSE:MAS) traded down 0.23% during trading on Friday, hitting $34.25. 412,318 shares of the stock were exchanged. The stock’s 50-day moving average price is $35.00 and its 200-day moving average price is $32.66. The firm has a market cap of $11.17 billion, a PE ratio of 26.01 and a beta of 1.92. Masco Corp. has a 12-month low of $23.10 and a 12-month high of $37.38.
Masco Corp. (NYSE:MAS) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Masco Corp. had a net margin of 6.12% and a return on equity of 780.00%. The company earned $2 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Masco Corp. will post $1.56 EPS for the current year.
Several analysts have recently weighed in on the stock. FBR & Co assumed coverage on shares of Masco Corp. in a report on Wednesday, June 1st. They issued a “buy” rating on the stock. Royal Bank Of Canada lifted their target price on shares of Masco Corp. from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Zacks Investment Research raised shares of Masco Corp. from a “hold” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a report on Wednesday, July 27th. Jefferies Group lifted their target price on shares of Masco Corp. from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, MKM Partners reaffirmed a “hold” rating on shares of Masco Corp. in a report on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Masco Corp. presently has an average rating of “Buy” and an average target price of $35.71.
In other news, VP Kenneth G. Cole sold 3,609 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $37.23, for a total value of $134,363.07. Following the completion of the sale, the vice president now directly owns 79,192 shares of the company’s stock, valued at $2,948,318.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard A. Manoogian sold 44,008 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $36.68, for a total transaction of $1,614,213.44. Following the completion of the sale, the director now directly owns 818,711 shares of the company’s stock, valued at $30,030,319.48. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Masco Corp. Company Profile
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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