Stifel Financial Corp Acquires 19,595 Shares of Masco Corp (NYSE:MAS)
Stifel Financial Corp grew its stake in Masco Corp (NYSE:MAS) by 28.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,662 shares of the construction company’s stock after buying an additional 19,595 shares during the period. Stifel Financial Corp’s holdings in Masco were worth $4,502,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MAS. Sigma Planning Corp bought a new position in Masco in the 2nd quarter worth approximately $259,000. Ballentine Partners LLC acquired a new position in Masco during the 2nd quarter valued at $272,000. Guggenheim Capital LLC grew its position in Masco by 18.1% in the 1st quarter. Guggenheim Capital LLC now owns 71,710 shares of the construction company’s stock worth $2,479,000 after purchasing an additional 11,003 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Masco by 470.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 23,460 shares of the construction company’s stock valued at $1,178,000 after buying an additional 19,350 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Masco by 8.5% during the first quarter. PNC Financial Services Group Inc. now owns 71,545 shares of the construction company’s stock worth $2,473,000 after buying an additional 5,578 shares in the last quarter. 89.68% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $61.00 target price on shares of Masco in a research report on Friday, July 24th. KeyCorp increased their target price on Masco from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Deutsche Bank boosted their price target on Masco from $54.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Raymond James cut Masco from a “strong-buy” rating to a “market perform” rating and set a $52.00 price objective for the company. in a report on Friday, May 29th. Finally, Robert W. Baird lifted their price target on shares of Masco from $45.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. Masco presently has a consensus rating of “Buy” and a consensus target price of $52.69.
Masco (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.13. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Masco had a net margin of 19.23% and a negative return on equity of 1,729.19%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. As a group, sell-side analysts predict that Masco Corp will post 2.7 EPS for the current fiscal year.
In related news, VP Renee Straber sold 49,447 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $57.22, for a total value of $2,829,357.34. Following the sale, the vice president now owns 78,300 shares in the company, valued at approximately $4,480,326. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard A. O’reagan sold 46,247 shares of Masco stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $57.12, for a total transaction of $2,641,628.64. Following the transaction, the insider now directly owns 82,300 shares of the company’s stock, valued at $4,700,976. The disclosure for this sale can be found here. Insiders have sold 96,940 shares of company stock valued at $5,533,286 in the last quarter. 1.23% of the stock is currently owned by corporate insiders.
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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