British Columbia Investment Management Corp decreased its position in shares of Masco Corp. (NYSE:MAS) by 6.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,592 shares of the company’s stock after selling 18,801 shares during the period. British Columbia Investment Management Corp’s holdings in Masco Corp. were worth $9,112,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in shares of Masco Corp. by 2.5% in the second quarter. IFP Advisors Inc now owns 4,000 shares of the company’s stock worth $124,000 after buying an additional 96 shares during the last quarter. FDx Advisors Inc. boosted its position in shares of Masco Corp. by 1.2% in the second quarter. FDx Advisors Inc. now owns 8,367 shares of the company’s stock worth $259,000 after buying an additional 97 shares during the period. Bollard Group LLC boosted its position in shares of Masco Corp. by 0.3% in the second quarter. Bollard Group LLC now owns 39,696 shares of the company’s stock worth $1,228,000 after buying an additional 119 shares during the period. Advantus Capital Management Inc boosted its position in shares of Masco Corp. by 0.6% in the second quarter. Advantus Capital Management Inc now owns 32,782 shares of the company’s stock worth $1,014,000 after buying an additional 186 shares during the period. Finally, Conning Inc. boosted its position in shares of Masco Corp. by 2.4% in the second quarter. Conning Inc. now owns 8,421 shares of the company’s stock worth $261,000 after buying an additional 200 shares during the period. 89.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Masco Corp. (NYSE:MAS) traded down 1.68% during mid-day trading on Monday, reaching $32.16. 3,924,212 shares of the company traded hands. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 23.20 and a beta of 1.59. Masco Corp. has a 52 week low of $23.10 and a 52 week high of $37.38. The firm has a 50-day moving average price of $31.92 and a 200 day moving average price of $33.07.
Masco Corp. (NYSE:MAS) last issued its earnings results on Tuesday, October 25th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Masco Corp. had a return on equity of 620.95% and a net margin of 6.40%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Masco Corp. will post $1.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, October 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.22%. This is a boost from Masco Corp.’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, October 12th. Masco Corp.’s dividend payout ratio is presently 28.78%.
A number of brokerages recently issued reports on MAS. Jefferies Group reissued a “buy” rating on shares of Masco Corp. in a research report on Thursday, August 4th. Wells Fargo & Co. began coverage on shares of Masco Corp. in a research report on Wednesday, September 28th. They set an “outperform” rating for the company. Bank of America Corp. began coverage on shares of Masco Corp. in a research report on Friday, September 23rd. They set a “buy” rating and a $41.00 price target for the company. Zacks Investment Research raised shares of Masco Corp. from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, October 4th. Finally, Evercore ISI began coverage on shares of Masco Corp. in a research report on Monday, November 14th. They set a “buy” rating and a $40.00 price target for the company. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $35.56.
In other Masco Corp. news, Director Lisa A. Payne sold 5,657 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $30.11, for a total transaction of $170,332.27. Following the transaction, the director now directly owns 88,697 shares in the company, valued at approximately $2,670,666.67. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.
About Masco Corp.
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.