Candriam Luxembourg S.C.A. Has $4.41 Million Stake in Masco Corp (MAS)
Candriam Luxembourg S.C.A. lifted its position in Masco Corp (NYSE:MAS) by 64.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,536 shares of the construction company’s stock after buying an additional 47,405 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Masco were worth $4,412,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. grew its position in shares of Masco by 147.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,312,287 shares of the construction company’s stock worth $86,526,000 after buying an additional 1,377,136 shares during the last quarter. Reinhart Partners Inc. grew its position in shares of Masco by 94.3% in the 3rd quarter. Reinhart Partners Inc. now owns 711,754 shares of the construction company’s stock worth $26,050,000 after buying an additional 345,346 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Masco by 15.4% in the 2nd quarter. Voya Investment Management LLC now owns 3,765,150 shares of the construction company’s stock worth $140,891,000 after buying an additional 501,978 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of Masco by 3,816.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 699,626 shares of the construction company’s stock worth $26,180,000 after buying an additional 681,761 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC purchased a new position in shares of Masco in the 2nd quarter worth approximately $15,622,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MAS opened at $30.78 on Tuesday. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 0.92 and a beta of 1.56. Masco Corp has a twelve month low of $27.15 and a twelve month high of $46.44. The company has a current ratio of 1.71, a quick ratio of 1.13 and a debt-to-equity ratio of 14.35.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Friday, October 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.56%. This is a boost from Masco’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, October 11th. Masco’s payout ratio is presently 24.74%.
In other Masco news, Director Richard A. Manoogian sold 50,000 shares of Masco stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $31.24, for a total transaction of $1,562,000.00. Following the completion of the sale, the director now directly owns 625,961 shares in the company, valued at approximately $19,555,021.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard A. O’reagan sold 12,900 shares of Masco stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $31.48, for a total transaction of $406,092.00. Following the sale, the insider now owns 61,443 shares of the company’s stock, valued at $1,934,225.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,769 shares of company stock valued at $7,306,140. Company insiders own 1.20% of the company’s stock.
MAS has been the topic of a number of analyst reports. Robert W. Baird set a $42.00 price objective on shares of Masco and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Goldman Sachs Group assumed coverage on shares of Masco in a research report on Tuesday, October 2nd. They set a “buy” rating and a $49.00 target price on the stock. Credit Suisse Group dropped their target price on shares of Masco from $35.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Evercore ISI raised shares of Masco from an “in-line” rating to an “outperform” rating in a research report on Monday, October 1st. Finally, ValuEngine downgraded shares of Masco from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. Masco presently has a consensus rating of “Buy” and an average target price of $42.63.
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Masco Company Profile
Masco Corp. engages in the design, manufacture, marketing, and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows & Other Specialty Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.
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