Meeder Asset Management Inc. Has $703,000 Stake in Masco Corp. (MAS)
Meeder Asset Management Inc. raised its stake in shares of Masco Corp. (NYSE:MAS) by 59.5% during the second quarter, Holdings Channel reports. The fund owned 22,753 shares of the company’s stock after buying an additional 8,492 shares during the period. Meeder Asset Management Inc.’s holdings in Masco Corp. were worth $703,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in MAS. Bessemer Group Inc. raised its position in Masco Corp. by 1.8% in the first quarter. Bessemer Group Inc. now owns 3,334 shares of the company’s stock valued at $105,000 after buying an additional 58 shares during the last quarter. IFP Advisors Inc raised its position in Masco Corp. by 203.8% in the first quarter. IFP Advisors Inc now owns 3,904 shares of the company’s stock valued at $123,000 after buying an additional 2,619 shares during the last quarter. Reynolds Capital Management LLC acquired a new position in Masco Corp. during the first quarter valued at approximately $214,000. YHB Investment Advisors Inc. acquired a new position in Masco Corp. during the second quarter valued at approximately $213,000. Finally, ING Groep NV raised its position in Masco Corp. by 2.4% in the first quarter. ING Groep NV now owns 7,669 shares of the company’s stock valued at $241,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.
Shares of Masco Corp. (NYSE:MAS) traded down 2.08% during mid-day trading on Friday, reaching $32.90. The company’s stock had a trading volume of 5,304,371 shares. Masco Corp. has a 12 month low of $23.10 and a 12 month high of $37.38. The stock has a market capitalization of $10.73 billion, a P/E ratio of 24.98 and a beta of 1.92. The company has a 50 day moving average price of $35.62 and a 200 day moving average price of $32.49.
Masco Corp. (NYSE:MAS) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Masco Corp. had a return on equity of 780.00% and a net margin of 6.12%. The business earned $2 billion during the quarter, compared to analyst estimates of $2 billion. During the same period last year, the company earned $0.38 earnings per share. Masco Corp.’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Masco Corp. will post $1.56 earnings per share for the current fiscal year.
Several equities analysts recently commented on the company. FBR & Co assumed coverage on Masco Corp. in a research note on Wednesday, June 1st. They issued a “buy” rating for the company. Zacks Investment Research upgraded Masco Corp. from a “hold” rating to a “strong-buy” rating and set a $41.00 target price for the company in a research note on Wednesday, July 27th. Royal Bank Of Canada upped their target price on Masco Corp. from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Jefferies Group boosted their price target on Masco Corp. from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Finally, MKM Partners reissued a “hold” rating on shares of Masco Corp. in a research report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $35.38.
In related news, VP Christopher K. Kastner sold 4,085 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $36.53, for a total transaction of $149,225.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kenneth G. Cole sold 3,609 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $37.23, for a total value of $134,363.07. Following the sale, the vice president now owns 79,192 shares of the company’s stock, valued at $2,948,318.16. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Masco Corp. Company Profile
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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