Arizona State Retirement System Has $3.03 Million Stake in Masco Corporation (MAS)
Arizona State Retirement System boosted its position in Masco Corporation (NYSE:MAS) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,385 shares of the construction company’s stock after buying an additional 100 shares during the period. Arizona State Retirement System’s holdings in Masco Corporation were worth $3,033,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Masco Corporation by 1,387.4% in the first quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock worth $948,149,000 after buying an additional 26,019,679 shares during the last quarter. Boston Partners increased its position 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 worth $519,757,000 after buying an additional 4,714,941 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Masco Corporation during the first quarter worth approximately $105,662,000. Marshall Wace North America L.P. purchased a new position in shares of Masco Corporation during the first quarter worth approximately $105,662,000. Finally, APG Asset Management N.V. increased its position in shares of Masco Corporation by 66.4% in the first quarter. APG Asset Management N.V. now owns 4,014,128 shares of the construction company’s stock worth $136,440,000 after buying an additional 1,601,824 shares during the last quarter. Institutional investors own 89.17% of the company’s stock.
Shares of Masco Corporation (MAS) opened at 36.47 on Friday. The company has a 50-day moving average of $38.03 and a 200-day moving average of $36.04. Masco Corporation has a 52 week low of $29.38 and a 52 week high of $39.37. The firm has a market capitalization of $11.50 billion, a PE ratio of 22.55 and a beta of 1.56.
Masco Corporation (NYSE:MAS) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the business earned $0.46 earnings per share. Masco Corporation’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Masco Corporation will post $1.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, July 14th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.10%. The ex-dividend date was Wednesday, July 12th. Masco Corporation’s dividend payout ratio (DPR) is presently 24.69%.
MAS has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price objective on shares of Masco Corporation from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. BidaskClub upgraded shares of Masco Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC restated a “buy” rating and set a $45.00 price objective on shares of Masco Corporation in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Masco Corporation from a “sell” rating to a “hold” rating and set a $42.00 price objective for the company in a research report on Wednesday, April 26th. Finally, Credit Suisse Group initiated coverage on shares of Masco Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating and a $36.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $40.79.
In other Masco Corporation news, 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 value of $171,758.16. Following the sale, the vice president now directly owns 65,961 shares in the company, valued at $2,544,775.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard A. Manoogian sold 29,989 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $36.84, for a total transaction of $1,104,794.76. Following the completion of the sale, the director now owns 622,281 shares in the company, valued at $22,924,832.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,262 shares of company stock worth $4,259,573. 1.30% of the stock is owned by company insiders.
About Masco Corporation
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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