Masco Corporation (MAS) Shares Bought by Penn Capital Management Co. Inc.
Penn Capital Management Co. Inc. boosted its stake in shares of Masco Corporation (NYSE:MAS) by 122.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,396 shares of the construction company’s stock after purchasing an additional 32,104 shares during the period. Penn Capital Management Co. Inc.’s holdings in Masco Corporation were worth $2,264,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in MAS. Pathstone Family Office LLC purchased a new stake in Masco Corporation during the 1st quarter worth approximately $103,000. Trust Co. of Vermont grew its position in Masco Corporation by 4.4% during the 2nd quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock worth $113,000 after purchasing an additional 125 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in Masco Corporation during the 2nd quarter worth approximately $166,000. Kings Point Capital Management grew its position in Masco Corporation by 50.0% during the 2nd quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock worth $172,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its position in Masco Corporation by 2.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,126 shares of the construction company’s stock worth $174,000 after purchasing an additional 106 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.
Shares of Masco Corporation (MAS) opened at 38.09 on Friday. Masco Corporation has a 12-month low of $29.38 and a 12-month high of $39.37. The stock has a market capitalization of $12.01 billion, a P/E ratio of 23.56 and a beta of 1.54. The stock has a 50 day moving average of $37.16 and a 200 day moving average of $36.60.
Masco Corporation (NYSE:MAS) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $2.07 billion. During the same period last year, the firm posted $0.46 EPS. Masco Corporation’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Masco Corporation will post $1.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, October 13th will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.10%. This is a positive change from Masco Corporation’s previous quarterly dividend of $0.10. Masco Corporation’s dividend payout ratio (DPR) is 24.69%.
Several analysts have weighed in on MAS shares. Robert W. Baird reissued a “buy” rating and set a $42.00 target price on shares of Masco Corporation in a research report on Monday, August 28th. BidaskClub raised shares of Masco Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC reissued a “buy” rating and set a $45.00 target price on shares of Masco Corporation in a research report on Wednesday, July 19th. Royal Bank Of Canada reissued a “buy” rating and set a $43.00 target price on shares of Masco Corporation in a research report on Wednesday, May 31st. Finally, Zacks Investment Research downgraded shares of Masco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $40.93.
In related news, insider Joseph B. Gross sold 2,337 shares of Masco Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $37.53, for a total value of $87,707.61. Following the transaction, the insider now directly owns 56,935 shares in the company, valued at approximately $2,136,770.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kenneth G. Cole sold 2,266 shares of Masco Corporation stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total transaction of $84,657.76. Following the completion of the transaction, the vice president now owns 85,693 shares in the company, valued at $3,201,490.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,101 shares of company stock worth $916,799. 1.30% of the stock is currently owned by insiders.
Masco Corporation 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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