Prudential Financial Inc. Increases Position in Masco Corporation (MAS)
Prudential Financial Inc. boosted its position in Masco Corporation (NYSE:MAS) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 497,210 shares of the construction company’s stock after acquiring an additional 11,362 shares during the period. Prudential Financial Inc. owned 0.16% of Masco Corporation worth $19,396,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware bought a new stake in Masco Corporation in the 2nd quarter valued at about $101,000. YorkBridge Wealth Partners LLC raised its stake in Masco Corporation by 4.6% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock valued at $110,000 after acquiring an additional 127 shares during the period. Advisory Services Network LLC raised its stake in Masco Corporation by 27.6% in the 2nd quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock valued at $135,000 after acquiring an additional 763 shares during the period. Fiduciary Trust Co. bought a new stake in Masco Corporation in the 2nd quarter valued at about $166,000. Finally, Kings Point Capital Management raised its stake in Masco Corporation by 50.0% in the 2nd quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock valued at $172,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.
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Masco Corporation (MAS) opened at $39.36 on Friday. Masco Corporation has a twelve month low of $30.08 and a twelve month high of $41.10. The company has a current ratio of 1.94, a quick ratio of 1.43 and a debt-to-equity ratio of 49.48. The company has a market capitalization of $12,260.00, a PE ratio of 21.22, a PEG ratio of 1.21 and a beta of 1.56.
Masco Corporation (NYSE:MAS) last issued its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). Masco Corporation had a negative return on equity of 7,325.00% and a net margin of 7.23%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. research analysts forecast that Masco Corporation will post 1.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Friday, October 13th were issued a dividend of $0.105 per share. This is a positive change from Masco Corporation’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, October 12th. This represents a $0.42 annualized dividend and a dividend yield of 1.07%. Masco Corporation’s payout ratio is presently 24.85%.
In other news, CFO John G. Sznewajs sold 52,511 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $39.83, for a total transaction of $2,091,513.13. Following the completion of the transaction, the chief financial officer now owns 391,443 shares of the company’s stock, valued at $15,591,174.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph B. Gross sold 2,337 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $37.53, for a total value of $87,707.61. Following the transaction, the insider now directly owns 56,935 shares of the company’s stock, valued at approximately $2,136,770.55. The disclosure for this sale can be found here. Insiders have sold 90,990 shares of company stock valued at $3,600,733 in the last three months. 1.30% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on the company. Raymond James Financial, Inc. restated a “market perform” rating on shares of Masco Corporation in a research note on Wednesday, October 25th. Royal Bank Of Canada boosted their price objective on Masco Corporation from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. Wells Fargo & Company cut Masco Corporation from an “outperform” rating to a “market perform” rating and set a $44.00 price objective on the stock. in a research note on Wednesday, October 25th. Robert W. Baird upped their price target on Masco Corporation from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Finally, Nomura set a $45.00 price target on Masco Corporation and gave the company a “buy” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $42.88.
About Masco Corporation
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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