Highland Capital Management LLC bought a new stake in shares of Masco Corporation (NYSE:MAS) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 5,858 shares of the construction company’s stock, valued at approximately $224,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Patten & Patten Inc. TN raised its position in Masco Corporation by 15.2% in the second quarter. Patten & Patten Inc. TN now owns 58,980 shares of the construction company’s stock valued at $2,254,000 after buying an additional 7,795 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Masco Corporation by 817.3% in the second quarter. Assenagon Asset Management S.A. now owns 209,819 shares of the construction company’s stock worth $8,017,000 after buying an additional 186,945 shares during the last quarter. First Quadrant L P CA increased its stake in Masco Corporation by 3.1% in the second quarter. First Quadrant L P CA now owns 343,838 shares of the construction company’s stock worth $13,138,000 after buying an additional 10,253 shares during the last quarter. Aperio Group LLC increased its stake in Masco Corporation by 8.7% in the second quarter. Aperio Group LLC now owns 175,521 shares of the construction company’s stock worth $6,707,000 after buying an additional 14,073 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Masco Corporation by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the construction company’s stock worth $757,000 after buying an additional 100 shares during the last quarter. 89.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Masco Corporation (MAS) traded down 0.19% on Friday, hitting $36.40. 2,001,486 shares of the stock were exchanged. The company has a 50 day moving average of $37.99 and a 200 day moving average of $36.06. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 22.51 and a beta of 1.56. Masco Corporation has a 52-week low of $29.38 and a 52-week high of $39.37.
Masco Corporation (NYSE:MAS) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 EPS 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 business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts forecast that Masco Corporation will post $1.97 earnings per share for the current 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Wednesday, July 12th. Masco Corporation’s payout ratio is currently 24.69%.
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A number of research firms have recently weighed in on MAS. Royal Bank Of Canada restated a “buy” rating on shares of Masco Corporation in a research note on Wednesday, April 26th. Longbow Research restated a “buy” rating and issued a $42.00 price target on shares of Masco Corporation in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Masco Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. MKM Partners restated a “buy” rating and issued a $43.00 price target (up from $40.00) on shares of Masco Corporation in a research note on Friday, May 19th. Finally, Zacks Investment Research downgraded shares of Masco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.79.
In other news, Director Richard A. Manoogian sold 60,323 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $37.11, for a total transaction of $2,238,586.53. Following the completion of the sale, the director now owns 622,281 shares of the company’s stock, valued at $23,092,847.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Renee Straber sold 4,452 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,544,775.38. The disclosure for this sale can be found here. Insiders have sold 114,262 shares of company stock worth $4,259,573 over the last quarter. Company insiders own 1.30% of the company’s stock.
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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