Masco Corporation (MAS) Shares Sold by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board cut its stake in Masco Corporation (NYSE:MAS) by 19.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 403,353 shares of the construction company’s stock after selling 95,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Masco Corporation were worth $15,412,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Masco Corporation by 1,387.4% in the first quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock valued at $948,149,000 after buying an additional 26,019,679 shares in the last quarter. FMR LLC raised its stake in Masco Corporation by 1.2% in the first quarter. FMR LLC now owns 19,095,444 shares of the construction company’s stock valued at $649,054,000 after buying an additional 235,564 shares in the last quarter. Boston Partners raised its stake in Masco Corporation by 7.4% in the first quarter. Boston Partners now owns 8,887,709 shares of the construction company’s stock valued at $302,093,000 after buying an additional 611,363 shares in the last quarter. Pioneer Investment Management Inc. raised its stake in Masco Corporation by 17.6% in the second quarter. Pioneer Investment Management Inc. now owns 7,855,227 shares of the construction company’s stock valued at $300,149,000 after buying an additional 1,175,777 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in Masco Corporation by 11.7% in the second quarter. APG Asset Management N.V. now owns 4,484,628 shares of the construction company’s stock valued at $171,358,000 after buying an additional 470,500 shares in the last quarter. Institutional investors own 89.17% of the company’s stock.
Masco Corporation (NYSE:MAS) opened at 37.42 on Wednesday. Masco Corporation has a one year low of $29.38 and a one year high of $39.37. The company has a market capitalization of $11.80 billion, a P/E ratio of 23.14 and a beta of 1.56. The company’s 50-day moving average is $38.12 and its 200 day moving average is $36.03.
Masco Corporation (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.07 billion. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. Analysts predict that Masco Corporation will post $1.97 EPS for the current year.
The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.07%. Masco Corporation’s payout ratio is 24.69%.
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A number of research firms have recently commented on MAS. Barclays PLC raised their price objective on shares of Masco Corporation from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Credit Suisse Group set a $36.00 price objective on shares of Masco Corporation and gave the stock a “hold” rating in a report on Thursday, July 27th. Instinet reaffirmed a “buy” rating and set a $41.00 price objective (up from $39.00) on shares of Masco Corporation in a report on Friday, May 19th. Robert W. Baird reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Masco Corporation in a report on Wednesday, May 17th. Finally, Zacks Investment Research raised shares of Masco Corporation from a “sell” rating to a “hold” rating and set a $42.00 price objective for the company in a report on Wednesday, April 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $40.79.
In other Masco Corporation news, insider Richard A. O’reagan sold 19,498 shares of the stock in a transaction dated Friday, August 4th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Renee Straber sold 4,452 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $38.58, for a total transaction of $171,758.16. Following the sale, the vice president now owns 65,961 shares in the company, valued at $2,544,775.38. The disclosure for this sale can be found here. Insiders have sold 175,602 shares of company stock worth $6,528,540 over the last quarter. Corporate insiders own 1.30% 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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