Mizuho Asset Management Co. Ltd. cut its stake in Masco Corporation (NYSE:MAS) by 5.8% during the third quarter, Holdings Channel reports. The fund owned 40,421 shares of the company’s stock after selling 2,507 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Masco Corporation were worth $1,387,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MAS. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Masco Corporation by 0.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 25,201 shares of the company’s stock valued at $779,000 after buying an additional 218 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in shares of Masco Corporation during the second quarter valued at about $431,000. Tocqueville Asset Management L.P. raised its position in shares of Masco Corporation by 5.0% in the second quarter. Tocqueville Asset Management L.P. now owns 52,354 shares of the company’s stock valued at $1,620,000 after buying an additional 2,500 shares during the last quarter. 1ST Source Bank raised its position in shares of Masco Corporation by 8.2% in the second quarter. 1ST Source Bank now owns 31,763 shares of the company’s stock valued at $983,000 after buying an additional 2,400 shares during the last quarter. Finally, Concert Wealth Management Inc. raised its position in shares of Masco Corporation by 4.2% in the second quarter. Concert Wealth Management Inc. now owns 14,897 shares of the company’s stock valued at $458,000 after buying an additional 594 shares during the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.
Shares of Masco Corporation (NYSE:MAS) opened at 33.75 on Friday. Masco Corporation has a 52-week low of $25.61 and a 52-week high of $37.38. The firm has a 50-day moving average price of $32.66 and a 200-day moving average price of $33.27. The stock has a market capitalization of $10.95 billion, a P/E ratio of 24.35 and a beta of 1.51.
Masco Corporation (NYSE:MAS) last issued its quarterly earnings results on Thursday, February 9th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by $0.01. Masco Corporation had a return on equity of 1,293.51% and a net margin of 6.67%. The company earned $1.80 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm earned $0.29 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts predict that Masco Corporation will post $1.88 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Friday, January 13th will be given a $0.10 dividend. The ex-dividend date is Wednesday, January 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. Masco Corporation’s dividend payout ratio is currently 27.21%.
MAS has been the topic of several recent research reports. Royal Bank Of Canada cut their price target on Masco Corporation from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. RBC Capital Markets reiterated a “buy” rating and issued a $37.00 price target (down previously from $41.00) on shares of Masco Corporation in a report on Wednesday, October 26th. MKM Partners upgraded Masco Corporation from a “neutral” rating to a “buy” rating and cut their price target for the stock from $40.00 to $36.00 in a report on Wednesday, October 26th. Jefferies Group LLC cut their price target on Masco Corporation from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Finally, Evercore ISI started coverage on Masco Corporation in a report on Monday, November 14th. They issued a “buy” rating and a $40.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $37.57.
About Masco Corporation
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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