Masco Corp (MAS) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in shares of Masco Corp (NYSE:MAS) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,001 shares of the construction company’s stock after selling 5,636 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Masco were worth $2,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Masco by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,243,111 shares of the construction company’s stock worth $82,098,000 after purchasing an additional 8,315 shares in the last quarter. AXA increased its stake in Masco by 1,289.5% in the 3rd quarter. AXA now owns 727,886 shares of the construction company’s stock worth $26,640,000 after buying an additional 675,500 shares in the last quarter. Providence Capital Advisors LLC increased its stake in Masco by 16.1% in the 3rd quarter. Providence Capital Advisors LLC now owns 58,300 shares of the construction company’s stock worth $2,134,000 after buying an additional 8,100 shares in the last quarter. Norinchukin Bank The increased its stake in Masco by 12.4% in the 3rd quarter. Norinchukin Bank The now owns 39,547 shares of the construction company’s stock worth $1,447,000 after buying an additional 4,368 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in Masco by 103.4% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,655 shares of the construction company’s stock worth $134,000 after buying an additional 1,858 shares in the last quarter. 89.27% of the stock is currently owned by hedge funds and other institutional investors.

In other Masco news, Director Richard A. Manoogian sold 50,000 shares of the stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $31.24, for a total transaction of $1,562,000.00. Following the completion of the transaction, the director now owns 625,961 shares of the company’s stock, valued at approximately $19,555,021.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard A. O’reagan sold 12,900 shares of the stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $31.48, for a total transaction of $406,092.00. Following the transaction, the insider now directly owns 61,443 shares of the company’s stock, valued at approximately $1,934,225.64. The disclosure for this sale can be found here. Insiders have sold a total of 212,900 shares of company stock valued at $6,631,092 in the last three months. Insiders own 1.20% of the company’s stock.

A number of brokerages have issued reports on MAS. Royal Bank of Canada upgraded Masco from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $37.00 to $38.00 in a research note on Monday, December 3rd. Citigroup cut their price target on Masco from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Deutsche Bank cut their price target on Masco from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Argus set a $43.00 price target on Masco and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, Nomura set a $40.00 price target on Masco and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $42.68.

MAS opened at $30.13 on Friday. Masco Corp has a 52 week low of $27.15 and a 52 week high of $46.44. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.89 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 data 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Masco Corp will post 2.41 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Friday, October 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, October 11th. This is an increase from Masco’s previous quarterly dividend of $0.11. Masco’s dividend payout ratio is 24.74%.

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Masco Profile

Masco Corp. engages in the design, manufacture, marketing, and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows & Other Specialty Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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