Icon Advisers Inc. Co. Raises Position in Masco Corp (NYSE:MAS)
Icon Advisers Inc. Co. lifted its position in shares of Masco Corp (NYSE:MAS) by 22.1% during the second quarter, Holdings Channel reports. The institutional investor owned 362,165 shares of the construction company’s stock after purchasing an additional 65,600 shares during the period. Masco makes up approximately 1.3% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 19th biggest position. Icon Advisers Inc. Co.’s holdings in Masco were worth $14,211,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Masco by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 3,821,402 shares of the construction company’s stock valued at $111,533,000 after buying an additional 252,240 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Masco by 17.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,246,159 shares of the construction company’s stock worth $36,436,000 after purchasing an additional 180,698 shares during the period. American Century Companies Inc. grew its stake in shares of Masco by 25.7% during the 4th quarter. American Century Companies Inc. now owns 19,236 shares of the construction company’s stock worth $562,000 after purchasing an additional 3,934 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Masco during the 1st quarter worth $231,000. Finally, Raymond James Trust N.A. grew its stake in shares of Masco by 8.1% during the 1st quarter. Raymond James Trust N.A. now owns 7,909 shares of the construction company’s stock worth $311,000 after purchasing an additional 594 shares during the period. Institutional investors own 91.14% of the company’s stock.
MAS has been the topic of a number of recent analyst reports. Raymond James set a $50.00 price target on shares of Masco and gave the stock a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research raised shares of Masco from a “sell” rating to a “hold” rating and set a $44.00 price target on the stock in a research note on Monday, July 29th. Royal Bank of Canada set a $45.00 price target on shares of Masco and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America reaffirmed a “buy” rating and set a $56.00 price target (up from $43.00) on shares of Masco in a research note on Monday, May 6th. Finally, TheStreet cut shares of Masco from a “b” rating to a “c+” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $45.27.
Masco (NYSE:MAS) last released its earnings results on Thursday, July 25th. The construction company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.07. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. Masco had a net margin of 8.77% and a return on equity of 792.80%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. As a group, research analysts forecast that Masco Corp will post 2.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Friday, July 12th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, July 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.26%. Masco’s payout ratio is currently 19.20%.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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