Fmr LLC Has $784.66 Million Holdings in Masco Corporation (MAS)
Fmr LLC raised its stake in shares of Masco Corporation (NYSE:MAS) by 7.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 20,535,390 shares of the construction company’s stock after purchasing an additional 1,439,946 shares during the period. Fmr LLC owned approximately 6.45% of Masco Corporation worth $784,657,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in MAS. Pathstone Family Office LLC purchased a new position in shares of Masco Corporation in the 1st quarter worth approximately $103,000. Trust Co. of Vermont boosted its stake in shares of Masco Corporation by 4.4% in the 2nd 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. Fiduciary Trust Co. purchased a new position in shares of Masco Corporation in the 2nd quarter worth approximately $166,000. Kings Point Capital Management boosted its stake in shares of Masco Corporation by 50.0% in the 2nd quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock worth $172,000 after buying an additional 1,500 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in shares of Masco Corporation by 2.1% in the 1st 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. Institutional investors and hedge funds own 88.38% of the company’s stock.
MAS has been the topic of a number of research analyst reports. BidaskClub upgraded Masco Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Royal Bank Of Canada restated a “buy” rating and issued a $43.00 target price on shares of Masco Corporation in a research note on Wednesday, May 31st. Longbow Research restated a “buy” rating and issued a $42.00 target price on shares of Masco Corporation in a research note on Tuesday, July 4th. Zacks Investment Research upgraded Masco Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Friday, July 21st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $45.00 target price on shares of Masco Corporation in a research note on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $40.92.
In related news, insider Richard A. O’reagan sold 19,498 shares of the firm’s 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 sale, the insider now owns 91,154 shares in the company, valued at $3,480,259.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph B. Gross sold 2,337 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $37.53, for a total transaction of $87,707.61. Following the completion of the sale, the insider now owns 56,935 shares in the company, valued at approximately $2,136,770.55. The disclosure for this sale can be found here. Insiders sold 24,101 shares of company stock worth $916,799 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
Shares of Masco Corporation (MAS) opened at 38.09 on Friday. Masco Corporation has a 12-month low of $29.38 and a 12-month high of $39.37. The company has a 50 day moving average of $37.16 and a 200-day moving average of $36.60. The company has a market cap of $12.01 billion, a PE ratio of 23.56 and a beta of 1.54.
Masco Corporation (NYSE:MAS) last issued its 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 quarter last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Masco Corporation will post $1.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, October 13th will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.10%. This is a boost from Masco Corporation’s previous quarterly dividend of $0.10. Masco Corporation’s dividend payout ratio (DPR) is currently 24.69%.
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Masco Corporation 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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