Stifel Financial Corp Cuts Stake in Masco Corporation (MAS)
Stifel Financial Corp lowered its position in shares of Masco Corporation (NYSE:MAS) by 13.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,282 shares of the construction company’s stock after selling 12,293 shares during the period. Stifel Financial Corp’s holdings in Masco Corporation were worth $3,111,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Masco Corporation during the second quarter valued at $101,000. Pathstone Family Office LLC purchased a new position in shares of Masco Corporation during the first quarter valued at $103,000. Trust Co. of Vermont increased its stake in shares of Masco Corporation by 4.4% during the second quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock valued at $113,000 after buying an additional 125 shares during the period. Fiduciary Trust Co. purchased a new position in shares of Masco Corporation during the second quarter valued at $166,000. Finally, Kings Point Capital Management increased its stake in shares of Masco Corporation by 50.0% during the second quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock valued at $172,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 88.38% of the company’s stock.
In other news, VP Kenneth G. Cole sold 2,266 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was 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 directly owns 85,693 shares of the company’s stock, valued at approximately $3,201,490.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard A. O’reagan sold 19,498 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.18, for a total value of $744,433.64. Following the completion of the sale, the insider now directly owns 91,154 shares of the company’s stock, valued at $3,480,259.72. The disclosure for this sale can be found here. Insiders have sold a total of 24,101 shares of company stock valued at $916,799 over the last ninety days. 1.30% of the stock is owned by insiders.
Masco Corporation (MAS) opened at 38.96 on Thursday. The firm has a 50-day moving average price of $37.78 and a 200-day moving average price of $37.13. The firm has a market capitalization of $12.29 billion, a P/E ratio of 24.09 and a beta of 1.54. Masco Corporation has a one year low of $29.38 and a one year high of $39.62.
Masco Corporation (NYSE:MAS) last posted its quarterly earnings data on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. Masco Corporation had a return on equity of 20,509.09% and a net margin of 7.09%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts anticipate that Masco Corporation will post $1.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, October 13th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.08%. This is a boost from Masco Corporation’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, October 12th. Masco Corporation’s dividend payout ratio (DPR) is presently 24.69%.
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MAS has been the topic of several research reports. Royal Bank Of Canada restated a “buy” rating and set a $43.00 price target on shares of Masco Corporation in a research note on Tuesday, July 18th. Longbow Research reiterated a “buy” rating and issued a $42.00 target price on shares of Masco Corporation in a research note on Tuesday, July 4th. Zacks Investment Research upgraded Masco Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Friday, July 21st. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Masco Corporation in a research note on Wednesday, July 19th. Finally, MKM Partners reiterated a “buy” rating and issued a $44.00 target price (up previously from $43.00) on shares of Masco Corporation in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $40.92.
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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