Trust Co. of Virginia VA lifted its position in shares of Masco Co. (NYSE:MAS – Get Rating) by 5.4% in the 2nd quarter, Holdings Channel reports. The fund owned 145,734 shares of the construction company's stock after buying an additional 7,427 shares during the period. Trust Co. of Virginia VA's holdings in Masco were worth $7,374,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of MAS. Prospera Financial Services Inc acquired a new stake in Masco in the first quarter worth about $25,000. Charter Oak Capital Management LLC acquired a new stake in Masco in the second quarter worth about $28,000. GHP Investment Advisors Inc. acquired a new stake in Masco in the first quarter worth about $55,000. Tobam lifted its holdings in Masco by 26.9% in the first quarter. Tobam now owns 1,129 shares of the construction company's stock worth $58,000 after purchasing an additional 239 shares during the period. Finally, Allworth Financial LP lifted its holdings in Masco by 153.5% in the second quarter. Allworth Financial LP now owns 1,146 shares of the construction company's stock worth $58,000 after purchasing an additional 694 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.
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Insider Activity
In other news, CEO Keith J. Allman sold 10,000 shares of the company's stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $52.02, for a total value of $520,200.00. Following the transaction, the chief executive officer now owns 288,295 shares in the company, valued at approximately $14,997,105.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on MAS. UBS Group reduced their price objective on shares of Masco from $81.00 to $76.00 and set a "buy" rating for the company in a report on Friday, July 29th. Barclays cut their price target on shares of Masco from $68.00 to $66.00 and set an "overweight" rating for the company in a report on Thursday, July 14th. Wells Fargo & Company upped their price target on shares of Masco from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Monday, August 1st. BMO Capital Markets cut their price target on shares of Masco from $68.00 to $60.00 in a report on Monday, August 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of Masco from $58.00 to $54.00 in a report on Friday, July 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $63.93.
Masco Trading Down 1.2 %
NYSE MAS traded down $0.59 on Friday, hitting $46.69. 2,564,552 shares of the company were exchanged, compared to its average volume of 1,925,092. The firm has a market capitalization of $10.53 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.23. Masco Co. has a twelve month low of $45.27 and a twelve month high of $71.06. The company has a debt-to-equity ratio of 52.66, a current ratio of 1.36 and a quick ratio of 0.81. The company's 50 day moving average price is $51.59 and its 200-day moving average price is $52.59.
Masco (NYSE:MAS – Get Rating) last issued its earnings results on Thursday, July 28th. The construction company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.05). The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.36 billion. Masco had a net margin of 9.83% and a negative return on equity of 686.15%. Masco's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. Analysts predict that Masco Co. will post 4.17 earnings per share for the current fiscal year.
Masco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Friday, August 12th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.40%. Masco's dividend payout ratio is 31.11%.
About Masco
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Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.
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