Kenneth G. Cole Sells 2,266 Shares of Masco Corporation (MAS) Stock
Masco Corporation (NYSE:MAS) VP Kenneth G. Cole sold 2,266 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total value of $84,657.76. Following the completion of the sale, the vice president now owns 85,693 shares of the company’s stock, valued at approximately $3,201,490.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Masco Corporation (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company earned $0.46 earnings per share. Masco Corporation’s quarterly revenue was up 2.8% compared to the same quarter last year.
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A number of brokerages recently issued reports on MAS. Robert W. Baird reiterated a “buy” rating and issued a $42.00 price target on shares of Masco Corporation in a report on Monday, August 28th. Zacks Investment Research lowered Masco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. MKM Partners restated a “buy” rating and set a $44.00 target price (up previously from $43.00) on shares of Masco Corporation in a report on Tuesday, August 1st. Barclays PLC upped their target price on Masco Corporation from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Finally, Credit Suisse Group set a $36.00 target price on Masco Corporation and gave the stock a “hold” rating in a report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.93.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its stake in Masco Corporation by 15.5% in the second quarter. Lord Abbett & CO. LLC now owns 239,859 shares of the construction company’s stock valued at $9,165,000 after purchasing an additional 32,267 shares during the period. USA Financial Portformulas Corp acquired a new position in Masco Corporation in the second quarter valued at $516,000. Toronto Dominion Bank increased its stake in Masco Corporation by 25.3% in the second quarter. Toronto Dominion Bank now owns 108,391 shares of the construction company’s stock valued at $4,141,000 after purchasing an additional 21,863 shares during the period. Cetera Investment Advisers increased its stake in Masco Corporation by 26.0% in the second quarter. Cetera Investment Advisers now owns 13,432 shares of the construction company’s stock valued at $513,000 after purchasing an additional 2,770 shares during the period. Finally, Advisory Services Network LLC increased its stake in Masco Corporation by 27.6% in the second quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock valued at $135,000 after purchasing an additional 763 shares during the period. Institutional investors own 88.38% 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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