Masco Corp. (MAS) Stake Increased by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA boosted its position in shares of Masco Corp. (NYSE:MAS) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 87,436 shares of the company’s stock after buying an additional 4,567 shares during the period. Emerald Advisers Inc. PA’s holdings in Masco Corp. were worth $2,705,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in Masco Corp. by 203.8% in the first quarter. IFP Advisors Inc now owns 3,904 shares of the company’s stock worth $123,000 after buying an additional 2,619 shares in the last quarter. Ngam Advisors L.P. boosted its stake in Masco Corp. by 2.9% in the first quarter. Ngam Advisors L.P. now owns 25,136 shares of the company’s stock worth $791,000 after buying an additional 714 shares in the last quarter. BlackRock Group LTD boosted its stake in Masco Corp. by 9.7% in the first quarter. BlackRock Group LTD now owns 3,741,189 shares of the company’s stock worth $117,661,000 after buying an additional 331,328 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Masco Corp. by 5.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 12,474,699 shares of the company’s stock worth $392,329,000 after buying an additional 700,344 shares in the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in Masco Corp. by 11.6% in the first quarter. BlackRock Japan Co. Ltd now owns 703,901 shares of the company’s stock worth $22,138,000 after buying an additional 72,895 shares in the last quarter. Institutional investors and hedge funds own 91.63% of the company’s stock.
Masco Corp. (NYSE:MAS) traded down 4.07% during midday trading on Friday, reaching $33.51. The company’s stock had a trading volume of 8,533,031 shares. The firm has a market capitalization of $10.93 billion, a PE ratio of 25.44 and a beta of 1.83. The stock has a 50 day moving average of $34.44 and a 200 day moving average of $33.01. Masco Corp. has a 52 week low of $23.10 and a 52 week high of $37.38.
Masco Corp. (NYSE:MAS) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. Masco Corp. had a return on equity of 780.00% and a net margin of 6.12%. Masco Corp.’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, equities research analysts predict that Masco Corp. will post $1.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.19%. 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. Masco Corp.’s payout ratio is presently 29.01%.
A number of analysts have issued reports on MAS shares. MKM Partners reissued a “hold” rating on shares of Masco Corp. in a research note on Wednesday, July 27th. RBC Capital Markets reissued an “outperform” rating and issued a $41.00 price target (up from $35.00) on shares of Masco Corp. in a research note on Wednesday, July 27th. Zacks Investment Research raised Masco Corp. from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, July 27th. Citigroup Inc. raised their price target on Masco Corp. from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Jefferies Group raised their price target on Masco Corp. from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $35.53.
In related news, CFO John G. Sznewajs sold 19,353 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $37.22, for a total transaction of $720,318.66. Following the transaction, the chief financial officer now directly owns 295,979 shares of the company’s stock, valued at $11,016,338.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard A. Manoogian sold 35,244 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $36.30, for a total value of $1,279,357.20. Following the transaction, the director now directly owns 765,739 shares in the company, valued at $27,796,325.70. The disclosure for this sale can be found here. Corporate 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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