Belpointe Asset Management LLC lifted its position in Masco Co. (NYSE:MAS) by 96.0% during the 2nd quarter, Holdings Channel reports. The firm owned 3,740 shares of the construction company’s stock after buying an additional 1,832 shares during the quarter. Belpointe Asset Management LLC’s holdings in Masco were worth $221,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its holdings in shares of Masco by 267.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 493 shares of the construction company’s stock worth $29,000 after purchasing an additional 359 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Masco by 85.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 548 shares of the construction company’s stock worth $32,000 after purchasing an additional 252 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Masco in the 2nd quarter worth about $39,000. Capital Analysts LLC grew its holdings in shares of Masco by 627.0% in the 2nd quarter. Capital Analysts LLC now owns 727 shares of the construction company’s stock worth $43,000 after purchasing an additional 627 shares during the last quarter. Finally, Gemmer Asset Management LLC grew its holdings in shares of Masco by 256.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 741 shares of the construction company’s stock worth $44,000 after purchasing an additional 533 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.
MAS has been the topic of several research reports. JPMorgan Chase & Co. downgraded shares of Masco from a “neutral” rating to an “underweight” rating and set a $61.00 price target on the stock. in a research report on Wednesday, July 7th. The Goldman Sachs Group upgraded shares of Masco from a “neutral” rating to a “buy” rating and upped their price target for the stock from $71.00 to $73.00 in a research report on Wednesday, June 30th. TheStreet downgraded shares of Masco from a “b” rating to a “c+” rating in a research report on Friday, May 21st. Wells Fargo & Company initiated coverage on shares of Masco in a research report on Thursday, July 15th. They set an “overweight” rating and a $68.00 price target on the stock. Finally, Barclays reduced their price target on shares of Masco from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Masco has a consensus rating of “Buy” and an average price target of $66.79.
Masco (NYSE:MAS) last issued its earnings results on Thursday, July 29th. The construction company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.10. Masco had a return on equity of 379.98% and a net margin of 6.61%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. Equities research analysts anticipate that Masco Co. will post 3.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 30th. Stockholders of record on Friday, August 13th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 12th. Masco’s payout ratio is 30.13%.
In related news, CEO Keith J. Allman sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 14th. The stock was sold at an average price of $58.28, for a total transaction of $582,800.00. Following the completion of the sale, the chief executive officer now owns 334,701 shares in the company, valued at $19,506,374.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.
Masco Corp. engages in the design, manufacture, marketing and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products and Decorative Architectural Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.
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