Masco Corp. (MAS) Stake Raised by Hermes Investment Management Ltd.
Hermes Investment Management Ltd. increased its position in Masco Corp. (NYSE:MAS) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 640,346 shares of the company’s stock after buying an additional 5,200 shares during the period. Hermes Investment Management Ltd.’s holdings in Masco Corp. were worth $19,812,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its stake in Masco Corp. by 5.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 12,474,699 shares of the company’s stock worth $392,329,000 after buying an additional 700,344 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in Masco Corp. during the first quarter worth $10,532,000. BlackRock Group LTD raised its stake in Masco Corp. by 9.7% in the first quarter. BlackRock Group LTD now owns 3,741,189 shares of the company’s stock worth $117,661,000 after buying an additional 331,328 shares in the last quarter. Norges Bank bought a new stake in Masco Corp. during the fourth quarter worth $90,710,000. Finally, Pictet Asset Management Ltd. raised its stake in Masco Corp. by 11.2% in the first quarter. Pictet Asset Management Ltd. now owns 3,043,469 shares of the company’s stock worth $85,825,000 after buying an additional 307,038 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Masco Corp. (NYSE:MAS) traded down 2.08% during midday trading on Friday, hitting $32.90. 5,304,371 shares of the stock traded hands. The firm has a 50-day moving average price of $35.62 and a 200 day moving average price of $32.49. Masco Corp. has a one year low of $23.10 and a one year high of $37.38. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 24.98 and a beta of 1.92.
Masco Corp. (NYSE:MAS) last posted its earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The business had revenue of $2 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. Analysts anticipate that Masco Corp. will post $1.56 earnings per share for the current year.
A number of analysts have recently weighed in on MAS shares. Credit Suisse Group AG reaffirmed a “buy” rating and set a $34.00 price objective on shares of Masco Corp. in a research report on Wednesday, June 29th. MKM Partners reaffirmed a “hold” rating on shares of Masco Corp. in a research report on Wednesday, July 27th. Jefferies Group reaffirmed a “buy” rating on shares of Masco Corp. in a research report on Thursday, August 4th. Citigroup Inc. increased their target price on Masco Corp. from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Royal Bank Of Canada increased their target price on Masco Corp. from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $35.38.
In related news, insider Richard A. O’reagan sold 6,000 shares of Masco Corp. stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $31.36, for a total transaction of $188,160.00. Following the sale, the insider now owns 85,705 shares of the company’s stock, valued at approximately $2,687,708.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard A. Manoogian sold 44,008 shares of Masco Corp. stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $36.68, for a total transaction of $1,614,213.44. Following the sale, the director now directly owns 818,711 shares in the company, valued at approximately $30,030,319.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
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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