Nomura Holdings Inc. bought a new position in Masco Corp (NYSE:MAS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 354,100 shares of the construction company’s stock, valued at approximately $13,975,000.
Other large investors have also recently made changes to their positions in the company. Rational Advisors LLC raised its holdings in Masco by 111.6% during the second quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock valued at $26,000 after acquiring an additional 347 shares during the period. Johnson Financial Group Inc. increased its position in shares of Masco by 94.5% in the 2nd quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock valued at $27,000 after acquiring an additional 343 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Masco in the 1st quarter valued at $29,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Masco in the 2nd quarter valued at $30,000. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Masco in the 2nd quarter valued at $30,000. 90.15% of the stock is owned by hedge funds and other institutional investors.
NYSE:MAS traded down $0.15 during mid-day trading on Friday, hitting $40.90. The company’s stock had a trading volume of 82,419 shares, compared to its average volume of 2,807,777. Masco Corp has a 1 year low of $27.03 and a 1 year high of $43.59. The company has a debt-to-equity ratio of 39.03, a current ratio of 1.46 and a quick ratio of 0.96. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.73 and a beta of 1.41. The business’s fifty day moving average is $40.25 and its two-hundred day moving average is $39.18.
Masco (NYSE:MAS) last posted its earnings results on Thursday, July 25th. The construction company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. Masco had a net margin of 8.77% and a return on equity of 792.80%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts anticipate that Masco Corp will post 2.66 EPS for the current fiscal year.
Masco announced that its board has initiated a stock repurchase program on Tuesday, September 17th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 16.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.135 per share. This is a positive change from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, October 10th. Masco’s dividend payout ratio is presently 19.20%.
In other news, CFO John G. Sznewajs sold 85,473 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total transaction of $3,494,136.24. Following the sale, the chief financial officer now directly owns 318,403 shares of the company’s stock, valued at approximately $13,016,314.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.17% of the company’s stock.
Several equities research analysts have commented on MAS shares. TheStreet lowered shares of Masco from a “b” rating to a “c+” rating in a report on Friday, July 26th. SunTrust Banks lowered their price target on shares of Masco from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday. Buckingham Research lowered shares of Masco from a “buy” rating to a “neutral” rating and lowered their price target for the company from $49.00 to $46.00 in a report on Wednesday. Barclays set a $45.00 price target on shares of Masco and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada set a $45.00 price target on shares of Masco and gave the company a “buy” rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Masco has a consensus rating of “Buy” and a consensus price target of $45.50.
Masco Company Profile
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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