Trade Report: The Kentucky Retirement Systems Invests $875,000 in Masco Corp. (MAS)

The Kentucky Retirement Systems Invests $875,000 in Masco Corp. (MAS)

Kentucky Retirement Systems acquired a new stake in Masco Corp. (NYSE:MAS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,296 shares of the company’s stock, valued at approximately $875,000.

Other hedge funds have also modified their holdings of the company. Boys Arnold & Co. Inc. acquired a new stake in shares of Masco Corp. during the second quarter valued at $340,000. Capstone Asset Management Co. boosted its stake in shares of Masco Corp. by 12.4% in the second quarter. Capstone Asset Management Co. now owns 47,203 shares of the company’s stock worth $1,460,000 after buying an additional 5,217 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in shares of Masco Corp. by 401.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 110,031 shares of the company’s stock worth $3,404,000 after buying an additional 88,077 shares during the period. Creative Planning boosted its stake in shares of Masco Corp. by 71.4% in the second quarter. Creative Planning now owns 10,288 shares of the company’s stock worth $318,000 after buying an additional 4,284 shares during the period. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Masco Corp. by 4.8% in the second quarter. Gateway Investment Advisers LLC now owns 72,941 shares of the company’s stock worth $2,257,000 after buying an additional 3,309 shares during the period. 88.05% of the stock is currently owned by institutional investors.

Masco Corp. (NYSE:MAS) traded up 0.99% on Friday, hitting $32.71. 1,103,028 shares of the stock were exchanged. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 23.60 and a beta of 1.59. The company has a 50-day moving average of $31.92 and a 200-day moving average of $33.07. Masco Corp. has a 12 month low of $23.10 and a 12 month high of $37.38.

Masco Corp. (NYSE:MAS) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.41 EPS for the quarter, missing the 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 period in the previous year, the firm earned $0.34 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Masco Corp. will post $1.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, October 14th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, October 12th. This represents a $0.40 annualized dividend and a yield of 1.22%. This is a positive change from Masco Corp.’s previous quarterly dividend of $0.10. Masco Corp.’s payout ratio is presently 28.78%.

MAS has been the topic of a number of research analyst reports. Wells Fargo & Co. initiated coverage on shares of Masco Corp. in a research report on Wednesday, September 28th. They set an “outperform” rating on the stock. Bank of America Corp. assumed 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 on the stock. Zacks Investment Research upgraded shares of Masco Corp. from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, October 4th. Royal Bank Of Canada dropped their price objective on shares of Masco Corp. from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, Evercore ISI assumed coverage on shares of Masco Corp. in a report on Monday, November 14th. They set a “buy” rating and a $40.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $35.56.

In related news, Director Lisa A. Payne sold 5,657 shares of the business’s 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 sale, the director now owns 88,697 shares of the company’s stock, valued at $2,670,666.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Masco Corp. Company Profile

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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