State of New Jersey Common Pension Fund D Invests $809,000 in Masco Corp (MAS)

State of New Jersey Common Pension Fund D acquired a new position in shares of Masco Corp (NYSE:MAS) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 20,000 shares of the construction company’s stock, valued at approximately $809,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stevens Capital Management LP grew its stake in shares of Masco by 1,465.7% during the 1st quarter. Stevens Capital Management LP now owns 278,875 shares of the construction company’s stock worth $11,278,000 after purchasing an additional 261,064 shares during the period. ING Groep NV grew its stake in shares of Masco by 31.2% during the 1st quarter. ING Groep NV now owns 32,020 shares of the construction company’s stock worth $1,295,000 after purchasing an additional 7,611 shares during the period. Synovus Financial Corp grew its stake in shares of Masco by 2.5% during the 1st quarter. Synovus Financial Corp now owns 103,215 shares of the construction company’s stock worth $4,174,000 after purchasing an additional 2,536 shares during the period. Engineers Gate Manager LP grew its stake in shares of Masco by 73.7% during the 1st quarter. Engineers Gate Manager LP now owns 80,739 shares of the construction company’s stock worth $3,265,000 after purchasing an additional 34,253 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Masco by 21.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,385,762 shares of the construction company’s stock worth $56,041,000 after purchasing an additional 243,321 shares during the period. 88.21% of the stock is currently owned by institutional investors and hedge funds.

In other Masco news, Director Lokeren Mary Ann Van sold 5,654 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $42.77, for a total value of $241,821.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lisa A. Payne sold 5,577 shares of the firm’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $41.85, for a total value of $233,397.45. Following the completion of the transaction, the director now owns 56,766 shares in the company, valued at approximately $2,375,657.10. The disclosure for this sale can be found here. Insiders sold a total of 16,823 shares of company stock worth $710,195 in the last 90 days. 1.20% of the stock is currently owned by insiders.



Shares of Masco opened at $37.52 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 16.23, a quick ratio of 1.10 and a current ratio of 1.69. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.97 and a beta of 1.52. Masco Corp has a fifty-two week low of $35.79 and a fifty-two week high of $46.44.

Masco (NYSE:MAS) last announced its quarterly earnings data on Tuesday, April 24th. The construction company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Masco had a net margin of 6.96% and a return on equity of 512.88%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. sell-side analysts expect that Masco Corp will post 2.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Friday, April 13th were issued a $0.105 dividend. The ex-dividend date was Thursday, April 12th. This represents a $0.42 dividend on an annualized basis and a yield of 1.12%. Masco’s payout ratio is currently 21.65%.

MAS has been the topic of a number of analyst reports. Deutsche Bank raised shares of Masco from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, March 22nd. Zacks Investment Research cut shares of Masco from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Royal Bank of Canada set a $46.00 price objective on shares of Masco and gave the stock a “buy” rating in a research note on Friday, February 9th. Barclays set a $47.00 price target on shares of Masco and gave the company a “buy” rating in a research note on Wednesday, April 25th. Finally, Argus set a $50.00 price target on shares of Masco and gave the company a “buy” rating in a research note on Friday, April 13th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.75.

About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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