Reinhart Partners Inc. reduced its position in Masco Corp (NYSE:MAS) by 24.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 335,640 shares of the construction company’s stock after selling 109,602 shares during the period. Reinhart Partners Inc. owned about 0.12% of Masco worth $13,989,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MAS. AQR Capital Management LLC increased its position in shares of Masco by 4,714.2% in the second quarter. AQR Capital Management LLC now owns 4,520,776 shares of the construction company’s stock worth $177,395,000 after acquiring an additional 4,426,871 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Masco by 3,506.0% in the second quarter. Nuveen Asset Management LLC now owns 4,530,529 shares of the construction company’s stock worth $177,778,000 after acquiring an additional 4,404,891 shares in the last quarter. Invesco Ltd. increased its position in shares of Masco by 119.2% in the second quarter. Invesco Ltd. now owns 4,858,957 shares of the construction company’s stock worth $190,665,000 after acquiring an additional 2,641,856 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Masco by 23.4% in the second quarter. UBS Asset Management Americas Inc. now owns 4,484,080 shares of the construction company’s stock worth $175,955,000 after acquiring an additional 851,759 shares in the last quarter. Finally, Columbus Circle Investors purchased a new position in shares of Masco in the third quarter worth approximately $30,500,000. 91.40% of the stock is currently owned by institutional investors and hedge funds.
MAS traded up $0.07 on Friday, reaching $46.30. 1,199,828 shares of the company traded hands, compared to its average volume of 3,353,776. The stock’s 50 day moving average price is $43.39 and its 200-day moving average price is $40.14. Masco Corp has a 52-week low of $27.03 and a 52-week high of $46.95. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.49 and a beta of 1.46. The company has a debt-to-equity ratio of 120.48, a current ratio of 1.46 and a quick ratio of 0.98.
Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.01). Masco had a net margin of 8.27% and a return on equity of 1,500.49%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Masco Corp will post 2.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, October 11th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, October 10th. 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 yield of 1.17%. Masco’s payout ratio is presently 21.60%.
Masco announced that its board has initiated a share buyback plan on Tuesday, September 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the construction company to purchase up to 16.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have recently weighed in on MAS shares. Raymond James set a $50.00 target price on shares of Masco and gave the stock a “buy” rating in a research report on Friday, July 26th. Robert W. Baird dropped their target price on shares of Masco from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lifted their target price on shares of Masco from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. SunTrust Banks lowered their price objective on shares of Masco from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Finally, Zacks Investment Research raised shares of Masco from a “sell” rating to a “hold” rating and set a $48.00 price objective on the stock in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.75.
In other Masco news, CFO John G. Sznewajs sold 85,473 shares of Masco stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total value of $3,494,136.24. Following the completion of the sale, the chief financial officer now directly owns 318,403 shares in the company, valued at $13,016,314.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard A. O’reagan sold 11,125 shares of Masco stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $45.85, for a total transaction of $510,081.25. Following the completion of the sale, 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. Insiders own 1.17% of the company’s stock.
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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