SeaBridge Investment Advisors LLC reduced its stake in Masco Co. (NYSE:MAS) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 49,571 shares of the construction company’s stock after selling 1,137 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Masco were worth $2,920,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of MAS. Cullen Frost Bankers Inc. lifted 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 acquiring an additional 359 shares during the last quarter. Rockefeller Capital Management L.P. lifted 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 acquiring an additional 252 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Masco during the 2nd quarter worth approximately $39,000. Capital Analysts LLC lifted its holdings in Masco by 627.0% during the 2nd quarter. Capital Analysts LLC now owns 727 shares of the construction company’s stock worth $43,000 after buying an additional 627 shares in the last quarter. Finally, Gemmer Asset Management LLC lifted its holdings in Masco by 256.3% during the 2nd quarter. Gemmer Asset Management LLC now owns 741 shares of the construction company’s stock worth $44,000 after buying an additional 533 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.
In other Masco news, CEO Keith J. Allman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 14th. The shares were sold at an average price of $58.28, for a total transaction of $582,800.00. Following the transaction, the chief executive officer now directly owns 334,701 shares of the company’s stock, valued at approximately $19,506,374.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
Masco (NYSE:MAS) last posted its earnings results on Thursday, July 29th. The construction company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.10. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. Masco had a net margin of 6.61% and a return on equity of 379.98%. On average, equities analysts expect that Masco Co. will post 3.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 30th. Shareholders of record on Friday, August 13th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 12th. Masco’s payout ratio is currently 30.13%.
MAS has been the topic of a number of research reports. TheStreet lowered shares of Masco from a “b” rating to a “c+” rating in a report on Friday, May 21st. Zacks Investment Research upgraded shares of Masco from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Wednesday, August 4th. Wells Fargo & Company initiated coverage on shares of Masco in a report on Thursday, July 15th. They set an “overweight” rating and a $68.00 target price on the stock. Loop Capital reduced their target price on shares of Masco from $67.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, July 7th. Finally, JPMorgan Chase & Co. downgraded shares of Masco from a “neutral” rating to an “underweight” rating and set a $61.00 price objective on the stock. in a research report on Wednesday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Masco currently has a consensus rating of “Buy” and an average target price of $66.79.
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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