Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in Masco Corp (NYSE:MAS) by 101.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,713 shares of the construction company’s stock after purchasing an additional 10,413 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Masco were worth $810,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in Masco by 16.1% during the fourth quarter. BlackRock Inc. now owns 25,729,104 shares of the construction company’s stock valued at $752,319,000 after acquiring an additional 3,573,503 shares during the last quarter. APG Asset Management N.V. boosted its position in Masco by 1.8% during the fourth quarter. APG Asset Management N.V. now owns 7,647,312 shares of the construction company’s stock valued at $195,606,000 after acquiring an additional 133,600 shares during the last quarter. Iridian Asset Management LLC CT boosted its position in Masco by 16.7% during the fourth quarter. Iridian Asset Management LLC CT now owns 5,717,510 shares of the construction company’s stock valued at $167,180,000 after acquiring an additional 816,091 shares during the last quarter. Two Sigma Advisers LP boosted its position in Masco by 65.3% during the fourth quarter. Two Sigma Advisers LP now owns 4,736,205 shares of the construction company’s stock valued at $138,487,000 after acquiring an additional 1,871,100 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Masco by 91.3% during the fourth quarter. Two Sigma Investments LP now owns 4,293,665 shares of the construction company’s stock valued at $125,547,000 after acquiring an additional 2,049,065 shares during the last quarter. 89.55% of the stock is currently owned by institutional investors.
Shares of NYSE MAS traded up $0.38 during trading on Friday, hitting $37.28. 2,321,538 shares of the company traded hands, compared to its average volume of 3,872,486. Masco Corp has a fifty-two week low of $27.03 and a fifty-two week high of $41.00. The firm has a market capitalization of $10.83 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.54 and a beta of 1.43. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 65.98.
Masco (NYSE:MAS) last posted its earnings results on Thursday, April 25th. The construction company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.03). Masco had a return on equity of 675.68% and a net margin of 8.40%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The company’s revenue was down .6% on a year-over-year basis. Equities research analysts forecast that Masco Corp will post 2.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, April 12th were issued a $0.12 dividend. The ex-dividend date was Thursday, April 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.29%. Masco’s dividend payout ratio is presently 19.20%.
In related news, VP John P. Lindow sold 37,795 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $39.07, for a total value of $1,476,650.65. Following the sale, the vice president now owns 60,454 shares in the company, valued at approximately $2,361,937.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John G. Sznewajs sold 165,248 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $39.92, for a total transaction of $6,596,700.16. Following the completion of the sale, the chief financial officer now owns 398,178 shares in the company, valued at approximately $15,895,265.76. The disclosure for this sale can be found here. Insiders sold a total of 298,940 shares of company stock worth $11,890,269 in the last 90 days. 1.17% of the stock is currently owned by company insiders.
A number of analysts have commented on the stock. Bank of America reaffirmed a “buy” rating and set a $56.00 price target (up previously from $43.00) on shares of Masco in a research report on Monday, May 6th. Zelman & Associates raised shares of Masco from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Barclays set a $44.00 price target on shares of Masco and gave the company a “buy” rating in a research report on Friday, April 26th. Raymond James raised shares of Masco from a “market perform” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research report on Friday, April 26th. Finally, Robert W. Baird set a $50.00 price target on shares of Masco and gave the company a “buy” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Masco presently has a consensus rating of “Buy” and a consensus target price of $44.33.
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Masco Company Profile
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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