Bank of Montreal Can Invests $6,343,000 in Masco Corp. (MAS)
Bank of Montreal Can purchased a new position in Masco Corp. (NYSE:MAS) during the second quarter, Holdings Channel reports. The institutional investor purchased 205,025 shares of the company’s stock, valued at approximately $6,343,000.
Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. increased its position in Masco Corp. by 1.8% in the first quarter. Bessemer Group Inc. now owns 3,334 shares of the company’s stock worth $105,000 after buying an additional 58 shares during the period. IFP Advisors Inc increased its position in 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. Reynolds Capital Management LLC acquired a new position in Masco Corp. during the first quarter valued at approximately $214,000. YHB Investment Advisors Inc. acquired a new position in Masco Corp. during the second quarter valued at approximately $213,000. Finally, ING Groep NV increased its position in Masco Corp. by 2.4% in the first quarter. ING Groep NV now owns 7,669 shares of the company’s stock valued at $241,000 after buying an additional 180 shares during the last quarter. 91.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Masco Corp. (NYSE:MAS) traded up 1.10% on Monday, reaching $33.88. 3,364,248 shares of the company’s stock were exchanged. Masco Corp. has a 12 month low of $23.10 and a 12 month high of $37.38. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 25.73 and a beta of 1.83. The firm’s 50-day moving average price is $34.44 and its 200 day moving average price is $33.01.
Masco Corp. (NYSE:MAS) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. Masco Corp. had a net margin of 6.12% and a return on equity of 780.00%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts predict that Masco Corp. will post $1.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This is a positive change from Masco Corp.’s previous quarterly dividend of $0.10. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. Masco Corp.’s payout ratio is currently 29.01%.
MAS has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Masco Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Credit Suisse Group AG reissued a “buy” rating and set a $34.00 target price on shares of Masco Corp. in a research report on Wednesday, June 29th. Jefferies Group reissued a “buy” rating on shares of Masco Corp. in a research report on Wednesday, July 6th. TheStreet raised shares of Masco Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Finally, FBR & Co increased their target price on shares of Masco Corp. from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.53.
In other news, VP Christopher K. Kastner sold 4,085 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $36.53, for a total transaction of $149,225.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kenneth G. Cole sold 3,609 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $37.23, for a total transaction of $134,363.07. Following the transaction, the vice president now owns 79,192 shares in the company, valued at $2,948,318.16. The disclosure for this sale can be found here. 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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