Moors & Cabot Inc. Buys New Stake in Masco Corp (MAS)
Moors & Cabot Inc. bought a new position in Masco Corp (NYSE:MAS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,838 shares of the construction company’s stock, valued at approximately $232,000.
Other large investors also recently made changes to their positions in the company. Mackay Shields LLC grew its position in Masco by 176.8% in the fourth quarter. Mackay Shields LLC now owns 135,721 shares of the construction company’s stock worth $3,968,000 after acquiring an additional 86,680 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Masco in the first quarter worth $247,000. BlackRock Inc. lifted its stake in Masco by 16.1% in the fourth quarter. BlackRock Inc. now owns 25,729,104 shares of the construction company’s stock worth $752,319,000 after purchasing an additional 3,573,503 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Masco by 16.1% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 107,009 shares of the construction company’s stock worth $3,129,000 after purchasing an additional 14,800 shares during the last quarter. Finally, Sciencast Management LP bought a new stake in Masco in the first quarter worth $885,000. Institutional investors own 89.55% of the company’s stock.
Several analysts have weighed in on the stock. Robert W. Baird set a $50.00 price target on shares of Masco and gave the stock a “buy” rating in a research note on Monday, April 22nd. Bank of America reissued a “buy” rating and issued a $56.00 price target (up from $43.00) on shares of Masco in a research note on Monday, May 6th. Barclays reissued a “buy” rating and issued a $39.00 price target on shares of Masco in a research note on Sunday, February 10th. Credit Suisse Group reissued a “hold” rating and issued a $34.00 price target on shares of Masco in a research note on Thursday, February 7th. Finally, Zacks Investment Research raised shares of Masco from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.33.
Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, April 25th. The construction company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.99 billion. Masco had a net margin of 8.40% and a return on equity of 675.68%. The business’s revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $0.45 earnings per share. On average, equities analysts anticipate that Masco Corp will post 2.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Friday, April 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, April 11th. Masco’s dividend payout ratio (DPR) is 19.20%.
In other news, VP Kenneth G. Cole sold 23,161 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $40.03, for a total transaction of $927,134.83. Following the completion of the transaction, the vice president now directly owns 96,843 shares of the company’s stock, valued at $3,876,625.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John G. Sznewajs sold 165,248 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $39.92, for a total transaction of $6,596,700.16. Following the transaction, the chief financial officer now directly owns 398,178 shares of the company’s stock, valued at $15,895,265.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 298,940 shares of company stock valued at $11,890,269. Insiders own 1.17% of the company’s stock.
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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.
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