Huntington National Bank Decreases Position in Masco Corp (MAS)
Huntington National Bank reduced its stake in shares of Masco Corp (NYSE:MAS) by 46.4% during the first quarter, Holdings Channel reports. The institutional investor owned 287,665 shares of the construction company’s stock after selling 249,287 shares during the period. Huntington National Bank owned 0.09% of Masco Corp worth $9,777,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. acquired a new stake in Masco Corp during the third quarter valued at approximately $164,000. Dearborn Partners LLC acquired a new stake in Masco Corp during the third quarter valued at approximately $201,000. Commerzbank Aktiengesellschaft FI raised its stake in Masco Corp by 2.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,500 shares of the construction company’s stock valued at $206,000 after buying an additional 176 shares in the last quarter. Stanley Laman Group Ltd. acquired a new stake in Masco Corp during the third quarter valued at approximately $223,000. Finally, IFM Investors Pty Ltd acquired a new stake in Masco Corp during the fourth quarter valued at approximately $244,000. Institutional investors and hedge funds own 88.65% of the company’s stock.
Shares of Masco Corp (NYSE:MAS) traded up 1.68% during trading on Friday, hitting $34.50. 2,762,270 shares of the company’s stock were exchanged. Masco Corp has a 1-year low of $29.11 and a 1-year high of $37.38. The firm has a market capitalization of $10.97 billion, a PE ratio of 23.47 and a beta of 1.51. The stock’s 50 day moving average is $33.80 and its 200 day moving average is $32.81.
Masco Corp (NYSE:MAS) last issued its quarterly earnings data on Thursday, February 9th. The construction company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.01. Masco Corp had a return on equity of 1,293.51% and a net margin of 6.67%. The firm earned $1.80 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Masco Corp’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Masco Corp will post $1.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 8th. Stockholders of record on Monday, April 17th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, April 12th. Masco Corp’s payout ratio is 27.21%.
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A number of analysts recently issued reports on MAS shares. Instinet restated a “buy” rating on shares of Masco Corp in a research report on Friday, April 14th. Zacks Investment Research lowered shares of Masco Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Barclays PLC decreased their target price on shares of Masco Corp to $36.00 in a research report on Friday, February 10th. Longbow Research upgraded shares of Masco Corp from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Thursday, April 6th. Finally, Nomura started coverage on shares of Masco Corp in a research report on Wednesday, April 12th. They set a “buy” rating and a $39.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $38.00.
In other news, VP Christopher K. Kastner sold 5,463 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $33.80, for a total value of $184,649.40. Following the completion of the sale, the vice president now directly owns 35,524 shares in the company, valued at $1,200,711.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lisa A. Payne sold 1,949 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $33.89, for a total transaction of $66,051.61. Following the completion of the sale, the director now owns 61,346 shares of the company’s stock, valued at $2,079,015.94. The disclosure for this sale can be found here. Insiders sold 9,496 shares of company stock valued at $322,682 over the last 90 days. 1.70% of the stock is owned by corporate insiders.
Masco Corp Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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