Richard A. Manoogian Sells 60,323 Shares of Masco Corp (MAS) Stock
Masco Corp (NYSE:MAS) Director Richard A. Manoogian sold 60,323 shares of Masco Corp stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $37.11, for a total value of $2,238,586.53. Following the completion of the transaction, the director now directly owns 622,281 shares in the company, valued at $23,092,847.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Masco Corp (NYSE:MAS) traded down 0.97% during trading on Tuesday, reaching $36.83. The company had a trading volume of 1,427,363 shares. Masco Corp has a 12 month low of $29.11 and a 12 month high of $37.58. The company has a market capitalization of $11.64 billion, a P/E ratio of 23.31 and a beta of 1.51. The stock has a 50 day moving average of $35.53 and a 200-day moving average of $33.50.
Masco Corp (NYSE:MAS) last released its quarterly earnings results on Tuesday, April 25th. The construction company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.76 billion. Masco Corp had a return on equity of 1,293.51% and a net margin of 6.67%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. Equities research analysts expect that Masco Corp will post $1.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 8th. Stockholders of record on Monday, April 17th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, April 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. Masco Corp’s dividend payout ratio (DPR) is presently 27.21%.
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Several hedge funds have recently added to or reduced their stakes in MAS. YorkBridge Wealth Partners LLC increased its stake in Masco Corp by 25.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 2,768 shares of the construction company’s stock valued at $102,000 after buying an additional 559 shares during the period. Pathstone Family Office LLC acquired a new stake in shares of Masco Corp during the first quarter valued at $103,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Masco Corp during the third quarter valued at $164,000. Edmond DE Rothschild Holding S.A. increased its stake in shares of Masco Corp by 2.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 5,126 shares of the construction company’s stock valued at $174,000 after buying an additional 106 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of Masco Corp during the first quarter valued at $202,000. Institutional investors own 88.65% of the company’s stock.
MAS has been the topic of several research analyst reports. Barclays PLC reduced their price objective on Masco Corp to $36.00 in a research note on Friday, February 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $43.00 price objective (up from $39.00) on shares of Masco Corp in a research note on Wednesday, April 26th. Nomura initiated coverage on Masco Corp in a research note on Wednesday, April 12th. They issued a “buy” rating and a $39.00 price objective on the stock. Longbow Research raised Masco Corp from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, April 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Masco Corp in a research note on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $39.76.
About Masco Corp
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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