State Board of Administration of Florida Retirement System lessened its stake in shares of Masco Corp (NYSE:MAS) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477,599 shares of the construction company’s stock after selling 10,840 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.16% of Masco worth $17,480,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Acropolis Investment Management LLC purchased a new stake in shares of Masco during the 3rd quarter worth approximately $146,000. NuWave Investment Management LLC lifted its position in shares of Masco by 3,600.9% during the 3rd quarter. NuWave Investment Management LLC now owns 4,182 shares of the construction company’s stock worth $153,000 after buying an additional 4,069 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Masco during the 3rd quarter worth approximately $200,000. Capital Investment Advisors LLC purchased a new stake in shares of Masco during the 2nd quarter worth approximately $202,000. Finally, Atria Investments LLC purchased a new stake in shares of Masco during the 3rd quarter worth approximately $207,000. Institutional investors and hedge funds own 89.61% of the company’s stock.
MAS stock opened at $31.03 on Friday. Masco Corp has a 12 month low of $27.15 and a 12 month high of $46.44. The firm has a market capitalization of $9.62 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.92 and a beta of 1.56. The company has a quick ratio of 1.13, a current ratio of 1.71 and a debt-to-equity ratio of 14.35.
Masco (NYSE:MAS) last released its quarterly earnings results on Tuesday, October 30th. The construction company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.05). Masco had a net margin of 7.65% and a return on equity of 409.25%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Masco Corp will post 2.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Friday, October 12th will be given a $0.12 dividend. This is an increase from Masco’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, October 11th. This represents a $0.48 annualized dividend and a yield of 1.55%. Masco’s dividend payout ratio is 24.74%.
MAS has been the subject of several recent analyst reports. Goldman Sachs Group initiated coverage on shares of Masco in a research report on Tuesday, October 2nd. They set a “buy” rating and a $49.00 price objective for the company. Robert W. Baird set a $42.00 price objective on shares of Masco and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Evercore ISI upgraded shares of Masco from an “in-line” rating to an “outperform” rating in a research report on Monday, October 1st. Credit Suisse Group reduced their price objective on shares of Masco from $35.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Finally, ValuEngine downgraded shares of Masco from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $42.95.
In other Masco news, Director Richard A. Manoogian sold 50,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $31.24, for a total value of $1,562,000.00. Following the transaction, the director now directly owns 625,961 shares of the company’s stock, valued at approximately $19,555,021.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John G. Sznewajs sold 96,869 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $38.95, for a total transaction of $3,773,047.55. Following the completion of the transaction, the chief financial officer now directly owns 237,578 shares in the company, valued at $9,253,663.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,869 shares of company stock valued at $6,900,048. 1.20% of the stock is owned by insiders.
ILLEGAL ACTIVITY WARNING: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2018/11/10/state-board-of-administration-of-florida-retirement-system-sells-10840-shares-of-masco-corp-mas.html.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.
Read More: Conference Calls and Individual Investors
Want to see what other hedge funds are holding MAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masco Corp (NYSE:MAS).
Receive News & Ratings for Masco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masco and related companies with MarketBeat.com's FREE daily email newsletter.