US Bancorp DE increased its stake in Masco Corp (NYSE:MAS) by 1.3% in the second quarter, Holdings Channel.com reports. The firm owned 300,597 shares of the construction company’s stock after purchasing an additional 3,965 shares during the quarter. US Bancorp DE’s holdings in Masco were worth $11,795,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MAS. Rational Advisors LLC boosted its stake in Masco by 111.6% in the 2nd quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock worth $26,000 after purchasing an additional 347 shares during the period. Johnson Financial Group Inc. boosted its stake in Masco by 94.5% in the 2nd quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock worth $27,000 after purchasing an additional 343 shares during the period. Penserra Capital Management LLC acquired a new position in Masco in the 1st quarter worth $29,000. TRUE Private Wealth Advisors acquired a new position in shares of Masco during the 2nd quarter worth about $30,000. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of Masco during the 2nd quarter worth about $30,000. 90.15% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on MAS. Robert W. Baird set a $48.00 price objective on shares of Masco and gave the stock a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research upgraded shares of Masco from a “sell” rating to a “hold” rating and set a $44.00 price objective for the company in a research note on Monday, July 29th. Argus increased their price objective on shares of Masco from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Raymond James set a $50.00 price objective on shares of Masco and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Barclays set a $45.00 price objective on shares of Masco and gave the stock a “buy” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $45.60.
Masco (NYSE:MAS) last issued its earnings results on Thursday, July 25th. The construction company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.07. Masco had a net margin of 8.77% and a return on equity of 792.80%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the business posted $0.75 EPS. Masco’s revenue was down 1.0% on a year-over-year basis. As a group, equities analysts forecast that Masco Corp will post 2.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, October 11th will be paid a $0.135 dividend. This is an increase from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a yield of 1.31%. Masco’s dividend payout ratio (DPR) is 19.20%.
In related news, CFO John G. Sznewajs sold 85,473 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total value of $3,494,136.24. Following the completion of the sale, the chief financial officer now directly owns 318,403 shares in the company, valued at approximately $13,016,314.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.17% of the company’s stock.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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