First Mercantile Trust Co. lowered its stake in shares of Masco Corporation (NYSE:MAS) by 61.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 20,850 shares of the construction company’s stock after selling 33,300 shares during the period. First Mercantile Trust Co.’s holdings in Masco Corporation were worth $797,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MAS. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Masco Corporation by 18.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 62,629 shares of the construction company’s stock valued at $2,393,000 after buying an additional 9,638 shares in the last quarter. Boston Partners boosted its stake in shares of Masco Corporation by 53.1% in the second quarter. Boston Partners now owns 13,602,650 shares of the construction company’s stock valued at $519,757,000 after buying an additional 4,714,941 shares in the last quarter. Arrow Financial Corp boosted its stake in shares of Masco Corporation by 0.5% in the second quarter. Arrow Financial Corp now owns 98,888 shares of the construction company’s stock valued at $3,779,000 after buying an additional 511 shares in the last quarter. Cigna Investments Inc. New boosted its stake in shares of Masco Corporation by 54.0% in the second quarter. Cigna Investments Inc. New now owns 20,308 shares of the construction company’s stock valued at $776,000 after buying an additional 7,122 shares in the last quarter. Finally, Pioneer Investment Management Inc. boosted its stake in shares of Masco Corporation by 17.6% in the second quarter. Pioneer Investment Management Inc. now owns 7,855,227 shares of the construction company’s stock valued at $300,149,000 after buying an additional 1,175,777 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Shares of Masco Corporation (NYSE MAS) opened at 36.69 on Friday. The company has a 50-day moving average of $38.21 and a 200-day moving average of $35.93. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 22.69 and a beta of 1.56. Masco Corporation has a 52-week low of $29.38 and a 52-week high of $39.37.

Masco Corporation (NYSE:MAS) last posted its earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.07 billion. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. Masco Corporation’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Equities research analysts anticipate that Masco Corporation will post $1.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Friday, July 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $0.40 annualized dividend and a yield of 1.09%. Masco Corporation’s payout ratio is 24.69%.

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Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Masco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. MKM Partners restated a “buy” rating and set a $44.00 target price (up from $43.00) on shares of Masco Corporation in a research report on Tuesday, August 1st. Barclays PLC upped their target price on shares of Masco Corporation from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Credit Suisse Group set a $36.00 target price on shares of Masco Corporation and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, BidaskClub cut shares of Masco Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $40.79.

In other Masco Corporation news, Director Richard A. Manoogian sold 60,323 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $37.11, for a total value of $2,238,586.53. Following the transaction, the director now directly owns 622,281 shares in the company, valued at approximately $23,092,847.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Renee Straber sold 4,452 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $38.58, for a total transaction of $171,758.16. Following the completion of the transaction, the vice president now owns 65,961 shares in the company, valued at $2,544,775.38. The disclosure for this sale can be found here. Insiders sold a total of 175,602 shares of company stock worth $6,528,540 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Masco Corporation Company Profile

Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.

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Institutional Ownership by Quarter for Masco Corporation (NYSE:MAS)

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