Avestar Capital LLC Takes Position in Masco Corp (NYSE:MAS)

Avestar Capital LLC acquired a new stake in Masco Corp (NYSE:MAS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,595 shares of the construction company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Guggenheim Capital LLC lifted its holdings in shares of Masco by 18.1% in the 1st quarter. Guggenheim Capital LLC now owns 71,710 shares of the construction company’s stock worth $2,479,000 after purchasing an additional 11,003 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Masco by 470.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 23,460 shares of the construction company’s stock worth $1,178,000 after purchasing an additional 19,350 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Masco by 8.5% during the first quarter. PNC Financial Services Group Inc. now owns 71,545 shares of the construction company’s stock worth $2,473,000 after purchasing an additional 5,578 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Masco during the first quarter worth $1,691,000. Finally, Franklin Resources Inc. acquired a new position in Masco during the fourth quarter worth $1,562,000. Institutional investors own 92.76% of the company’s stock.

In other news, CAO John P. Lindow sold 5,674 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $49.00, for a total transaction of $278,026.00. Following the completion of the sale, the chief accounting officer now owns 23,958 shares in the company, valued at $1,173,942. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO John P. Lindow sold 1,246 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $50.00, for a total transaction of $62,300.00. Following the completion of the sale, the chief accounting officer now owns 22,712 shares of the company’s stock, valued at approximately $1,135,600. The disclosure for this sale can be found here. 1.23% of the stock is currently owned by corporate insiders.

Shares of MAS stock opened at $57.16 on Friday. Masco Corp has a 1 year low of $27.04 and a 1 year high of $57.85. The firm has a market cap of $15.04 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.34 and a beta of 1.49. The stock’s 50-day moving average is $50.53 and its two-hundred day moving average is $44.69. The company has a debt-to-equity ratio of 68.16, a quick ratio of 1.32 and a current ratio of 1.50.

Masco (NYSE:MAS) last announced its earnings results on Thursday, July 30th. The construction company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.20. Masco had a net margin of 19.23% and a negative return on equity of 1,729.19%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, research analysts predict that Masco Corp will post 2.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.135 per share. The ex-dividend date is Thursday, July 9th. This represents a $0.54 annualized dividend and a dividend yield of 0.94%. Masco’s dividend payout ratio (DPR) is 24.00%.

A number of research analysts have commented on MAS shares. Raymond James cut Masco from a “strong-buy” rating to a “market perform” rating and set a $52.00 price target on the stock. in a research note on Friday, May 29th. TheStreet upgraded Masco from a “c+” rating to a “b” rating in a research note on Thursday. Jefferies Financial Group upgraded Masco from a “hold” rating to a “buy” rating and upped their price target for the stock from $33.00 to $40.00 in a research note on Friday, April 3rd. Deutsche Bank upped their price objective on Masco from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Nomura upped their price objective on Masco from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Masco currently has an average rating of “Buy” and a consensus target price of $52.69.

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.

Further Reading: Average Daily Trade Volume – What You Need to Know

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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