Rampart Investment Management Company LLC Reduces Holdings in Masco Corp (NYSE:MAS)
Rampart Investment Management Company LLC trimmed its position in shares of Masco Corp (NYSE:MAS) by 13.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,887 shares of the construction company’s stock after selling 606 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Masco were worth $153,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MAS. Geode Capital Management LLC boosted its stake in Masco by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 3,821,402 shares of the construction company’s stock worth $111,533,000 after buying an additional 252,240 shares during the period. Dimensional Fund Advisors LP boosted its stake in Masco by 17.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,246,159 shares of the construction company’s stock worth $36,436,000 after buying an additional 180,698 shares during the period. Janney Montgomery Scott LLC boosted its stake in Masco by 22.3% during the first quarter. Janney Montgomery Scott LLC now owns 10,027 shares of the construction company’s stock worth $394,000 after buying an additional 1,828 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of Masco during the first quarter valued at $232,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Masco by 3.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,217 shares of the construction company’s stock valued at $677,000 after purchasing an additional 551 shares during the period. 90.15% of the stock is owned by institutional investors.
Shares of MAS stock traded down $0.42 on Friday, hitting $40.63. The stock had a trading volume of 3,166,508 shares, compared to its average volume of 2,772,775. The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 39.03. The business has a 50 day moving average price of $40.24 and a 200 day moving average price of $39.19. The company has a market cap of $11.76 billion, a PE ratio of 16.25, a P/E/G ratio of 1.74 and a beta of 1.41. Masco Corp has a one year low of $27.03 and a one year high of $43.59.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, October 11th will be issued a $0.135 dividend. This is an increase from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, October 10th. Masco’s payout ratio is presently 19.20%.
Masco announced that its board has authorized a stock repurchase plan on Tuesday, September 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 16.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts have recently issued reports on MAS shares. Argus boosted their target price on shares of Masco from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Barclays set a $45.00 target price on shares of Masco and gave the company a “buy” rating in a research note on Friday, July 26th. Buckingham Research lowered shares of Masco from a “buy” rating to a “neutral” rating and lowered their target price for the company from $49.00 to $46.00 in a research note on Wednesday. Bank of America lowered their target price on shares of Masco from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, TheStreet lowered shares of Masco from a “b” rating to a “c+” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.50.
In related news, CFO John G. Sznewajs sold 85,473 shares of Masco stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $40.88, for a total value of $3,494,136.24. Following the completion of the sale, the chief financial officer now directly owns 318,403 shares in the company, valued at $13,016,314.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.17% of the company’s stock.
Masco Company Profile
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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