Artemis Investment Management LLP Sells 438,954 Shares of Masco Corp. (MAS)
Artemis Investment Management LLP reduced its position in shares of Masco Corp. (NYSE:MAS) by 92.7% during the second quarter, Holdings Channel reports. The fund owned 34,687 shares of the company’s stock after selling 438,954 shares during the period. Artemis Investment Management LLP’s holdings in Masco Corp. were worth $1,073,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MAS. Anchor Bolt Capital LP purchased a new stake in shares of Masco Corp. during the first quarter worth about $47,731,000. Hermes Investment Management Ltd. raised its stake in shares of Masco Corp. by 0.8% in the second quarter. Hermes Investment Management Ltd. now owns 640,346 shares of the company’s stock worth $19,812,000 after buying an additional 5,200 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Masco Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 2,635,785 shares of the company’s stock worth $82,720,000 after buying an additional 19,254 shares during the last quarter. SevenBridge Financial Group LLC purchased a new stake in shares of Masco Corp. during the first quarter worth about $1,625,000. Finally, Capstone Asset Management Co. raised its stake in shares of Masco Corp. by 12.4% in the second quarter. Capstone Asset Management Co. now owns 47,203 shares of the company’s stock worth $1,460,000 after buying an additional 5,217 shares during the last quarter. 91.63% of the stock is currently owned by institutional investors.
Shares of Masco Corp. (NYSE:MAS) traded up 0.26% during midday trading on Friday, hitting $34.31. 5,534,791 shares of the stock traded hands. The firm has a 50-day moving average price of $34.66 and a 200 day moving average price of $32.88. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 26.05 and a beta of 1.92. Masco Corp. has a one year low of $23.10 and a one year high of $37.38.
Masco Corp. (NYSE:MAS) last posted its earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. Masco Corp. had a net margin of 6.12% and a return on equity of 780.00%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. Analysts anticipate that Masco Corp. will post $1.57 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 14th will be issued a dividend of $0.10 per share. This is a positive change from Masco Corp.’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.17%. Masco Corp.’s payout ratio is presently 29.01%.
MAS has been the topic of a number of research analyst reports. Bank of America Corp. initiated coverage on Masco Corp. in a research report on Friday, September 23rd. They issued a “buy” rating and a $41.00 target price on the stock. Wells Fargo & Co. started coverage on Masco Corp. in a research report on Wednesday. They set an “outperform” rating on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Masco Corp. in a research report on Wednesday, July 6th. JPMorgan Chase & Co. upped their price objective on Masco Corp. from $34.50 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 27th. Finally, Deutsche Bank AG upped their price objective on Masco Corp. from $28.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Masco Corp. currently has a consensus rating of “Buy” and an average target price of $35.71.
In related news, VP Kenneth G. Cole sold 3,609 shares of Masco Corp. 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 sale, the vice president now owns 79,192 shares of the company’s stock, valued at approximately $2,948,318.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher K. Kastner sold 4,085 shares of Masco Corp. stock in a transaction on Friday, July 29th. The stock was sold at an average price of $36.53, for a total transaction of $149,225.05. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
About Masco Corp.
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.
Want to see what other hedge funds are holding MAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masco Corp. (NYSE:MAS).
Receive News & Ratings for Masco Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masco Corp. and related companies with MarketBeat.com's FREE daily email newsletter.