Legal & General Group Plc grew its stake in shares of Masco Corp (NYSE:MAS) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,600,173 shares of the construction company’s stock after purchasing an additional 34,138 shares during the quarter. Legal & General Group Plc owned approximately 0.51% of Masco worth $62,422,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware purchased a new stake in Masco in the second quarter worth about $101,000. YorkBridge Wealth Partners LLC lifted its stake in Masco by 4.6% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after acquiring an additional 127 shares during the period. Advisory Services Network LLC lifted its position in shares of Masco by 27.6% during the second quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock valued at $135,000 after buying an additional 763 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Masco during the second quarter valued at about $166,000. Finally, Kings Point Capital Management lifted its position in shares of Masco by 50.0% during the second quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock valued at $172,000 after buying an additional 1,500 shares during the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.
Shares of Masco Corp (NYSE MAS) traded up $0.80 on Tuesday, hitting $43.30. The company’s stock had a trading volume of 3,870,400 shares, compared to its average volume of 2,638,937. Masco Corp has a twelve month low of $30.52 and a twelve month high of $43.79. The firm has a market cap of $13,369.03, a P/E ratio of 23.10, a PEG ratio of 1.32 and a beta of 1.59. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 49.48.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, October 13th were given a $0.105 dividend. This is an increase from Masco’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 0.97%. The ex-dividend date was Thursday, October 12th. Masco’s payout ratio is currently 25.00%.
In related news, CFO John G. Sznewajs sold 52,511 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $39.83, for a total transaction of $2,091,513.13. Following the completion of the sale, the chief financial officer now owns 391,443 shares in the company, valued at $15,591,174.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John P. Lindow sold 17,026 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $40.07, for a total value of $682,231.82. Following the sale, the vice president now owns 101,681 shares of the company’s stock, valued at approximately $4,074,357.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,990 shares of company stock valued at $3,600,733. 1.30% of the stock is currently owned by corporate insiders.
MAS has been the subject of several analyst reports. Robert W. Baird reissued a “buy” rating and set a $42.00 price target on shares of Masco in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of Masco from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 26th. KeyCorp restated a “hold” rating on shares of Masco in a report on Tuesday, September 26th. Wells Fargo & Company downgraded shares of Masco from an “outperform” rating to a “market perform” rating and set a $44.00 price target on the stock. in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada raised their price objective on shares of Masco from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $42.88.
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Masco Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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