Cigna Investments Inc. New Has $776,000 Position in Masco Corporation (MAS)
Cigna Investments Inc. New increased its stake in shares of Masco Corporation (NYSE:MAS) by 54.0% during the second quarter, Holdings Channel reports. The institutional investor owned 20,308 shares of the construction company’s stock after buying an additional 7,122 shares during the period. Cigna Investments Inc. New’s holdings in Masco Corporation were worth $776,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Highbridge Capital Management LLC bought a new stake in Masco Corporation during the fourth quarter valued at approximately $402,000. Chevy Chase Trust Holdings Inc. increased its stake in Masco Corporation by 0.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 280,341 shares of the construction company’s stock valued at $9,528,000 after buying an additional 1,591 shares in the last quarter. Creative Planning increased its stake in Masco Corporation by 13.4% in the first quarter. Creative Planning now owns 14,145 shares of the construction company’s stock valued at $481,000 after buying an additional 1,673 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Masco Corporation by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 106,518 shares of the construction company’s stock valued at $3,620,000 after buying an additional 1,800 shares in the last quarter. Finally, National Pension Service increased its stake in Masco Corporation by 5.4% in the first quarter. National Pension Service now owns 320,459 shares of the construction company’s stock valued at $10,838,000 after buying an additional 16,515 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Masco Corporation (MAS) opened at 36.69 on Friday. The company has a 50 day moving average price of $38.21 and a 200-day moving average price of $35.93. The firm has a market cap of $11.57 billion, a PE ratio of 22.69 and a beta of 1.56. Masco Corporation has a 12-month low of $29.38 and a 12-month high of $39.37.
Masco Corporation (NYSE:MAS) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate 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 analyst estimates of $2.07 billion. During the same quarter last year, the business earned $0.46 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that Masco Corporation will post $1.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, July 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.09%. Masco Corporation’s dividend payout ratio is presently 24.69%.
Several analysts have commented on MAS shares. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Masco Corporation in a research note on Wednesday, April 26th. Zacks Investment Research upgraded Masco Corporation from a “sell” rating to a “hold” rating and set a $42.00 target price on the stock in a research report on Wednesday, April 26th. Jefferies Group LLC reiterated a “buy” rating and set a $43.00 target price (up previously from $39.00) on shares of Masco Corporation in a research report on Wednesday, April 26th. Deutsche Bank AG boosted their target price on Masco Corporation from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $40.00 target price on shares of Masco Corporation in a research report on Wednesday, May 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $40.79.
In other Masco Corporation news, insider Richard A. O’reagan sold 19,498 shares of Masco Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.18, for a total value of $744,433.64. Following the transaction, the insider now owns 91,154 shares in the company, valued at $3,480,259.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Renee Straber sold 4,452 shares of Masco Corporation stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $38.58, for a total transaction of $171,758.16. Following the completion of the transaction, the vice president now owns 65,961 shares in the company, valued at approximately $2,544,775.38. The disclosure for this sale can be found here. Insiders have sold 175,602 shares of company stock worth $6,528,540 in the last quarter. Company insiders own 1.30% of the company’s stock.
Masco Corporation Company Profile
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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