Ameriprise Financial Inc. Buys 421,631 Shares of Masco Corp (MAS)
Ameriprise Financial Inc. lifted its stake in shares of Masco Corp (NYSE:MAS) by 147.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 707,534 shares of the construction company’s stock after acquiring an additional 421,631 shares during the quarter. Ameriprise Financial Inc. owned 0.22% of Masco worth $27,589,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Masco during the second quarter worth $101,000. YorkBridge Wealth Partners LLC grew its stake in shares of Masco by 4.6% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after purchasing an additional 127 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Masco by 27.6% during the second quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock worth $135,000 after purchasing an additional 763 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Masco during the second quarter worth $166,000. Finally, Kings Point Capital Management grew its stake in shares of Masco by 50.0% during the second quarter. Kings Point Capital Management now owns 4,500 shares of the construction company’s stock worth $172,000 after purchasing an additional 1,500 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Kenneth G. Cole sold 2,266 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total transaction of $84,657.76. Following the completion of the sale, the vice president now owns 85,693 shares in the company, valued at $3,201,490.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph B. Gross sold 2,337 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $37.53, for a total transaction of $87,707.61. Following the sale, the insider now owns 56,935 shares of the company’s stock, valued at approximately $2,136,770.55. The disclosure for this sale can be found here. Insiders have sold 90,990 shares of company stock valued at $3,600,733 in the last quarter. Insiders own 1.30% of the company’s stock.
A number of equities analysts recently commented on the stock. Barclays set a $45.00 target price on shares of Masco and gave the stock a “buy” rating in a research note on Wednesday, October 25th. FBR & Co reiterated a “buy” rating and set a $46.00 target price (up previously from $43.00) on shares of Masco in a research note on Wednesday, October 25th. Nomura set a $45.00 target price on shares of Masco and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Robert W. Baird boosted their target price on shares of Masco from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Masco in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $42.88.
Masco Corp (NYSE:MAS) traded down $0.83 during midday trading on Thursday, reaching $42.15. 3,054,300 shares of the company’s stock traded hands, compared to its average volume of 2,641,996. The company has a quick ratio of 1.43, a current ratio of 1.94 and a debt-to-equity ratio of 49.48. Masco Corp has a one year low of $31.22 and a one year high of $43.79. The firm has a market capitalization of $13,310.00, a P/E ratio of 23.36, a PEG ratio of 1.33 and a beta of 1.59.
Masco (NYSE:MAS) last released its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). Masco had a net margin of 7.23% and a negative return on equity of 7,325.00%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The business’s revenue was up 3.1% on a year-over-year basis. sell-side analysts anticipate that Masco Corp will post 1.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, October 13th were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, October 12th. This is an increase from Masco’s previous quarterly dividend of $0.10. Masco’s dividend payout ratio is currently 24.85%.
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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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