Caisse DE Depot ET Placement DU Quebec reduced its position in Masco Corp (NYSE:MAS) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,408 shares of the construction company’s stock after selling 5,400 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Masco were worth $2,523,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Personal Financial Services purchased a new position in Masco in the 4th quarter worth approximately $100,000. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in Masco in the 4th quarter worth approximately $114,000. Tower Research Capital LLC TRC raised its holdings in Masco by 299.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,698 shares of the construction company’s stock worth $162,000 after acquiring an additional 2,772 shares during the last quarter. Parsons Capital Management Inc. RI purchased a new position in Masco in the 4th quarter worth approximately $204,000. Finally, Sigma Planning Corp purchased a new position in Masco in the 4th quarter worth approximately $205,000. Institutional investors own 90.07% of the company’s stock.
In other news, Director Richard A. Manoogian sold 82,701 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $42.89, for a total transaction of $3,547,045.89. Following the completion of the sale, the director now owns 692,102 shares of the company’s stock, valued at approximately $29,684,254.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director J Michael Losh sold 5,592 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $42.02, for a total transaction of $234,975.84. Following the sale, the director now directly owns 69,926 shares of the company’s stock, valued at approximately $2,938,290.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,150 shares of company stock valued at $4,462,062. Insiders own 1.30% of the company’s stock.
Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Masco had a net margin of 6.97% and a return on equity of 1,000.81%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. sell-side analysts forecast that Masco Corp will post 2.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Friday, January 12th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, January 11th. Masco’s payout ratio is 26.09%.
A number of brokerages recently weighed in on MAS. Deutsche Bank boosted their price objective on shares of Masco from $39.00 to $43.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Zacks Investment Research lowered shares of Masco from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Credit Suisse Group restated a “neutral” rating and issued a $46.00 price objective (up from $36.00) on shares of Masco in a report on Monday, January 22nd. They noted that the move was a valuation call. Royal Bank of Canada set a $46.00 target price on shares of Masco and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. downgraded shares of Masco from an “overweight” rating to a “neutral” rating in a research report on Friday, January 5th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.60.
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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