Masco Corp. (MAS) Stake Boosted by Vanguard Group Inc.
Vanguard Group Inc. boosted its position in Masco Corp. (NYSE:MAS) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,237,461 shares of the company’s stock after buying an additional 1,181,962 shares during the period. Vanguard Group Inc. owned 9.88% of Masco Corp. worth $997,428,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Boothbay Fund Management LLC purchased a new stake in shares of Masco Corp. during the first quarter worth about $10,532,000. Norges Bank bought a new position in Masco Corp. during the fourth quarter worth $90,710,000. Anchor Bolt Capital LP bought a new position in Masco Corp. during the first quarter worth $47,731,000. Societe Generale bought a new position in Masco Corp. during the second quarter worth $43,482,000. Finally, Congress Asset Management Co. MA bought a new position in Masco Corp. during the second quarter worth $36,998,000. Institutional investors and hedge funds own 91.63% of the company’s stock.
Shares of Masco Corp. (NYSE:MAS) traded up 2.25% during mid-day trading on Thursday, hitting $34.14. 402,589 shares of the stock traded hands. Masco Corp. has a 12-month low of $23.10 and a 12-month high of $37.38. The firm’s 50 day moving average price is $35.06 and its 200-day moving average price is $32.65. The stock has a market cap of $11.14 billion, a P/E ratio of 25.92 and a beta of 1.92.
Masco Corp. (NYSE:MAS) last announced its earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The business earned $2 billion during the quarter, compared to the consensus estimate of $2 billion. Masco Corp. had a net margin of 6.12% and a return on equity of 780.00%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Analysts predict that Masco Corp. will post $1.56 earnings per share for the current year.
MAS has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of Masco Corp. in a research report on Wednesday, July 6th. Deutsche Bank AG increased their price objective on shares of Masco Corp. from $28.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Credit Suisse Group AG reissued a “buy” rating and issued a $34.00 price target on shares of Masco Corp. in a research report on Wednesday, June 29th. JPMorgan Chase & Co. raised their price target on shares of Masco Corp. from $34.50 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research cut shares of Masco Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $35.38.
In other Masco Corp. news, Director Richard A. Manoogian sold 35,244 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $36.30, for a total transaction of $1,279,357.20. Following the transaction, the director now directly owns 765,739 shares in the company, valued at approximately $27,796,325.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kenneth G. Cole sold 3,609 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $37.23, for a total transaction of $134,363.07. Following the transaction, the vice president now owns 79,192 shares in the company, valued at $2,948,318.16. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
About Masco Corp.
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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