DekaBank Deutsche Girozentrale raised its holdings in shares of Masco Co. (NYSE:MAS) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,239 shares of the construction company’s stock after buying an additional 68,726 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Masco were worth $23,062,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its position in Masco by 229.9% during the fourth quarter. Allworth Financial LP now owns 452 shares of the construction company’s stock valued at $25,000 after buying an additional 315 shares in the last quarter. Childress Capital Advisors LLC acquired a new position in shares of Masco during the fourth quarter worth $25,000. Charter Oak Capital Management LLC acquired a new position in shares of Masco during the fourth quarter worth $30,000. International Assets Investment Management LLC acquired a new position in shares of Masco during the fourth quarter worth $35,000. Finally, Vectors Research Management LLC acquired a new position in shares of Masco during the fourth quarter worth $42,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO John G. Sznewajs sold 7,615 shares of the stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $56.21, for a total value of $428,039.15. Following the completion of the transaction, the chief financial officer now owns 222,475 shares in the company, valued at approximately $12,505,319.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keith J. Allman sold 6,543 shares of the stock in a transaction dated Friday, February 26th. The shares were sold at an average price of $53.20, for a total transaction of $348,087.60. Insiders have sold 44,075 shares of company stock valued at $2,452,777 in the last 90 days. Insiders own 1.23% of the company’s stock.
Masco (NYSE:MAS) last released its quarterly earnings results on Monday, February 8th. The construction company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. Masco had a net margin of 21.27% and a return on equity of 1,966.88%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, sell-side analysts forecast that Masco Co. will post 3.07 earnings per share for the current year.
Masco announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 9th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 13.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
MAS has been the topic of a number of recent research reports. Credit Suisse Group boosted their target price on shares of Masco from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. They noted that the move was a valuation call. BMO Capital Markets initiated coverage on shares of Masco in a research report on Wednesday, January 13th. They set a “market perform” rating and a $62.00 target price on the stock. Wolfe Research began coverage on shares of Masco in a research report on Tuesday, March 23rd. They set a “peer perform” rating on the stock. Zacks Investment Research cut shares of Masco from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Tuesday, December 29th. Finally, Jefferies Financial Group cut shares of Masco from a “buy” rating to a “hold” rating and cut their price target for the company from $69.00 to $61.00 in a report on Monday, January 4th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Masco has a consensus rating of “Buy” and an average price target of $60.55.
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company operates through two segments, Plumbing Products and Decorative Architectural Products. The Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.
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