Daiwa Securities Group Inc. Sells 23,800 Shares of Masco Corporation (MAS)
Daiwa Securities Group Inc. decreased its position in Masco Corporation (NYSE:MAS) by 72.8% during the second quarter, Holdings Channel reports. The fund owned 8,900 shares of the construction company’s stock after selling 23,800 shares during the period. Daiwa Securities Group Inc.’s holdings in Masco Corporation were worth $340,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. YorkBridge Wealth Partners LLC raised its position in Masco Corporation by 25.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 2,768 shares of the construction company’s stock worth $102,000 after buying an additional 559 shares during the last quarter. Pathstone Family Office LLC acquired a new position in Masco Corporation during the first quarter worth $103,000. Trust Co. of Vermont raised its position in Masco Corporation by 4.4% in the second quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock worth $113,000 after buying an additional 125 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in Masco Corporation by 2.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 5,126 shares of the construction company’s stock worth $174,000 after buying an additional 106 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in Masco Corporation during the first quarter worth $202,000. Hedge funds and other institutional investors own 89.17% of the company’s stock.
Masco Corporation (NYSE:MAS) opened at 37.42 on Wednesday. The firm’s 50-day moving average is $38.12 and its 200-day moving average is $36.03. The stock has a market capitalization of $11.80 billion, a P/E ratio of 23.14 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 released its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Masco Corporation will post $1.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, July 14th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.07%. Masco Corporation’s dividend payout ratio is currently 24.69%.
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A number of research firms recently weighed in on MAS. Royal Bank Of Canada restated a “buy” rating on shares of Masco Corporation in a research report on Wednesday, April 26th. Longbow Research restated a “buy” rating and set a $42.00 price target on shares of Masco Corporation in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Masco Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. MKM Partners restated a “buy” rating and set a $43.00 price target (up from $40.00) on shares of Masco Corporation in a research report on Friday, May 19th. Finally, Zacks Investment Research lowered shares of Masco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.79.
In other Masco Corporation news, VP Renee Straber sold 4,452 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $38.58, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard A. O’reagan sold 19,498 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $38.18, for a total transaction of $744,433.64. Following the sale, the insider now directly owns 91,154 shares in the company, valued at $3,480,259.72. The disclosure for this sale can be found here. Insiders have sold a total of 175,602 shares of company stock worth $6,528,540 over the last ninety days. 1.30% of the stock is owned by corporate insiders.
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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