Hutchens Investment Management Inc Takes Position in Masco Corp (MAS)
Hutchens Investment Management Inc acquired a new stake in Masco Corp (NYSE:MAS) in the 4th quarter, Holdings Channel reports. The fund acquired 6,500 shares of the construction company’s stock, valued at approximately $285,000.
Several other institutional investors and hedge funds have also modified their holdings of MAS. Pacer Advisors Inc. grew its position in shares of Masco by 8.1% in the 2nd quarter. Pacer Advisors Inc. now owns 6,853 shares of the construction company’s stock valued at $262,000 after purchasing an additional 515 shares during the period. Neuberger Berman Group LLC grew its position in shares of Masco by 43.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 15,014 shares of the construction company’s stock valued at $574,000 after purchasing an additional 4,578 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Masco by 36.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 10,269 shares of the construction company’s stock valued at $392,000 after purchasing an additional 2,737 shares during the period. Principal Financial Group Inc. grew its position in shares of Masco by 10.8% in the 2nd quarter. Principal Financial Group Inc. now owns 624,605 shares of the construction company’s stock valued at $23,866,000 after purchasing an additional 60,641 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Masco by 25.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 124,071 shares of the construction company’s stock valued at $4,741,000 after purchasing an additional 25,327 shares during the period. Institutional investors and hedge funds own 88.93% of the company’s stock.
In other news, VP Renee Straber sold 2,574 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $42.55, for a total transaction of $109,523.70. Following the sale, the vice president now owns 65,423 shares in the company, valued at approximately $2,783,748.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lokeren Mary Ann Van sold 16,850 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $38.85, for a total value of $654,622.50. Following the sale, the director now owns 47,909 shares in the company, valued at approximately $1,861,264.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,961 shares of company stock worth $3,537,891. Company insiders own 1.30% of the company’s stock.
Shares of Masco Corp (NYSE MAS) traded up $0.76 during trading on Wednesday, hitting $45.43. The stock had a trading volume of 3,414,000 shares, compared to its average volume of 2,927,383. Masco Corp has a one year low of $31.29 and a one year high of $45.55. The company has a market cap of $14,290.00, a PE ratio of 26.88, a P/E/G ratio of 1.19 and a beta of 1.58. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 49.48.
Masco (NYSE:MAS) last announced its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Masco had a negative return on equity of 7,325.00% and a net margin of 7.23%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. analysts forecast that Masco Corp will post 1.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Stockholders of record on Friday, January 12th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Thursday, January 11th. Masco’s dividend payout ratio is currently 24.85%.
MAS has been the topic of several research reports. JPMorgan Chase & Co. cut Masco from an “overweight” rating to a “neutral” rating in a research note on Friday, January 5th. Zacks Investment Research cut Masco from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Barclays set a $45.00 target price on Masco and gave the company a “buy” rating in a research note on Wednesday, October 25th. FBR & Co restated a “buy” rating and issued a $46.00 target price (up previously from $43.00) on shares of Masco in a research note on Wednesday, October 25th. Finally, Nomura set a $45.00 target price on Masco and gave the company a “buy” rating in a research note on Wednesday, October 25th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.47.
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Masco 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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