Northern Trust Corp decreased its holdings in shares of Masco Corp (NYSE:MAS) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,872,378 shares of the construction company’s stock after selling 10,729 shares during the period. Northern Trust Corp’s holdings in Masco were worth $294,585,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Adviser Investments LLC acquired a new stake in shares of Masco during the first quarter worth about $181,000. Capital Investment Advisors LLC acquired a new stake in shares of Masco during the second quarter worth about $202,000. Point72 Hong Kong Ltd boosted its stake in shares of Masco by 8,377.3% during the second quarter. Point72 Hong Kong Ltd now owns 5,595 shares of the construction company’s stock worth $209,000 after buying an additional 5,529 shares during the period. Castle Rock Wealth Management LLC acquired a new stake in shares of Masco during the second quarter worth about $216,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of Masco during the first quarter worth about $226,000. Institutional investors and hedge funds own 89.45% of the company’s stock.
In other news, insider Joseph B. Gross sold 1,286 shares of Masco stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $39.91, for a total transaction of $51,324.26. Following the completion of the sale, the insider now directly owns 48,740 shares in the company, valued at approximately $1,945,213.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John G. Sznewajs sold 96,869 shares of Masco stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $38.95, for a total transaction of $3,773,047.55. Following the sale, the chief financial officer now owns 237,578 shares of the company’s stock, valued at $9,253,663.10. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
Masco (NYSE:MAS) last posted its quarterly earnings results on Tuesday, July 31st. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Masco had a net margin of 7.41% and a return on equity of 490.27%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. Masco’s revenue was up 11.2% on a year-over-year basis. sell-side analysts anticipate that Masco Corp will post 2.51 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of Masco from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Wells Fargo & Co set a $45.00 price objective on shares of Masco and gave the company a “buy” rating in a research report on Friday, June 1st. B. Riley raised their price objective on shares of Masco from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Cfra restated a “buy” rating and issued a $46.00 price objective on shares of Masco in a research report on Sunday, August 5th. Finally, Zacks Investment Research upgraded shares of Masco from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.76.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.
Further Reading: Asset Allocation
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