Texas Permanent School Fund trimmed its position in Masco Corp (NYSE:MAS) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,918 shares of the construction company’s stock after selling 2,693 shares during the quarter. Texas Permanent School Fund’s holdings in Masco were worth $2,247,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Rational Advisors LLC increased its holdings in Masco by 111.6% in the 2nd quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock worth $26,000 after acquiring an additional 347 shares in the last quarter. Johnson Financial Group Inc. grew its holdings in Masco by 94.5% during the 2nd quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock valued at $27,000 after buying an additional 343 shares in the last quarter. TRUE Private Wealth Advisors purchased a new stake in Masco during the 2nd quarter valued at approximately $30,000. Redhawk Wealth Advisors Inc. purchased a new stake in Masco during the 2nd quarter valued at approximately $30,000. Finally, Usca Ria LLC purchased a new stake in Masco during the 3rd quarter valued at approximately $32,000. 91.40% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on MAS shares. Raymond James set a $50.00 price objective on shares of Masco and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America cut their price objective on shares of Masco from $56.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Royal Bank of Canada set a $45.00 price objective on shares of Masco and gave the company a “buy” rating in a report on Friday, July 26th. SunTrust Banks cut their price objective on shares of Masco from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Finally, Zelman & Associates lowered shares of Masco from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $46.75.
In other news, CFO John G. Sznewajs sold 85,473 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $40.88, for a total transaction of $3,494,136.24. Following the completion of the transaction, the chief financial officer now directly owns 318,403 shares in the company, valued at approximately $13,016,314.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard A. O’reagan sold 11,125 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $45.85, for a total value of $510,081.25. Following the transaction, the insider now owns 43,278 shares of the company’s stock, valued at $1,984,296.30. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by corporate insiders.
NYSE MAS opened at $46.30 on Friday. The company has a debt-to-equity ratio of 120.48, a quick ratio of 0.98 and a current ratio of 1.46. The company has a market capitalization of $13.32 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.49 and a beta of 1.46. Masco Corp has a one year low of $27.03 and a one year high of $46.95. The stock has a 50 day moving average price of $43.39 and a 200-day moving average price of $40.14.
Masco (NYSE:MAS) last posted its earnings results on Wednesday, October 30th. The construction company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.13 billion. Masco had a net margin of 8.27% and a return on equity of 1,500.49%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share. As a group, equities analysts predict that Masco Corp will post 2.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, October 11th will be given a dividend of $0.135 per share. This is an increase from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, October 10th. Masco’s dividend payout ratio is currently 21.60%.
Masco announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 16.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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