Masco Corp. (MAS) Position Raised by Mcmillion Capital Management Inc.
Mcmillion Capital Management Inc. boosted its stake in Masco Corp. (NYSE:MAS) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,968 shares of the company’s stock after buying an additional 190 shares during the period. Masco Corp. comprises about 2.7% of Mcmillion Capital Management Inc.’s portfolio, making the stock its 11th largest position. Mcmillion Capital Management Inc.’s holdings in Masco Corp. were worth $3,601,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boys Arnold & Co. Inc. acquired a new stake in Masco Corp. during the second quarter valued at $340,000. Capstone Asset Management Co. increased its stake in Masco Corp. by 12.4% in the second quarter. Capstone Asset Management Co. now owns 47,203 shares of the company’s stock valued at $1,460,000 after buying an additional 5,217 shares during the period. NN Investment Partners Holdings N.V. increased its stake in Masco Corp. by 401.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 110,031 shares of the company’s stock valued at $3,404,000 after buying an additional 88,077 shares during the period. Creative Planning increased its stake in Masco Corp. by 71.4% in the second quarter. Creative Planning now owns 10,288 shares of the company’s stock valued at $318,000 after buying an additional 4,284 shares during the period. Finally, Gateway Investment Advisers LLC increased its stake in Masco Corp. by 4.8% in the second quarter. Gateway Investment Advisers LLC now owns 72,941 shares of the company’s stock valued at $2,257,000 after buying an additional 3,309 shares during the period. 89.39% of the stock is owned by institutional investors.
Shares of Masco Corp. (NYSE:MAS) traded down 1.74% during midday trading on Wednesday, reaching $31.65. The company had a trading volume of 3,935,982 shares. The company’s 50 day moving average price is $31.83 and its 200 day moving average price is $33.10. The stock has a market capitalization of $10.27 billion, a PE ratio of 22.84 and a beta of 1.59. Masco Corp. has a 52-week low of $23.10 and a 52-week high of $37.38.
Masco Corp. (NYSE:MAS) last issued its earnings results on Tuesday, October 25th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.03. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Masco Corp. had a net margin of 6.40% and a return on equity of 620.95%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. Equities research analysts expect that Masco Corp. will post $1.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, October 14th were paid a dividend of $0.10 per share. This is a positive change from Masco Corp.’s previous quarterly dividend of $0.10. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Wednesday, October 12th. Masco Corp.’s payout ratio is currently 28.78%.
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MAS has been the subject of several research analyst reports. Zacks Investment Research upgraded Masco Corp. from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, October 4th. Wells Fargo & Co. initiated coverage on Masco Corp. in a research report on Wednesday, September 28th. They set an “outperform” rating for the company. RBC Capital Markets reiterated a “buy” rating and set a $37.00 target price (down from $41.00) on shares of Masco Corp. in a research report on Wednesday, October 26th. Royal Bank Of Canada decreased their price objective on Masco Corp. from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Finally, Jefferies Group decreased their price objective on Masco Corp. from $42.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.56.
In other news, Director Lisa A. Payne sold 5,657 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $30.11, for a total transaction of $170,332.27. Following the completion of the sale, the director now directly owns 88,697 shares of the company’s stock, valued at $2,670,666.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.
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