Hennion & Walsh Asset Management Inc. lowered its stake in shares of Masco Co. (NYSE:MAS – Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,707 shares of the construction company’s stock after selling 574 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Masco were worth $1,129,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC lifted its position in shares of Masco by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 47,616 shares of the construction company’s stock valued at $2,222,000 after purchasing an additional 198 shares in the last quarter. Fayez Sarofim & Co lifted its position in shares of Masco by 0.9% during the third quarter. Fayez Sarofim & Co now owns 22,809 shares of the construction company’s stock valued at $1,065,000 after purchasing an additional 200 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Masco by 1.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the construction company’s stock valued at $681,000 after purchasing an additional 200 shares in the last quarter. Savant Capital LLC lifted its position in shares of Masco by 3.3% during the fourth quarter. Savant Capital LLC now owns 6,369 shares of the construction company’s stock valued at $297,000 after purchasing an additional 205 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Masco by 4.8% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 4,703 shares of the construction company’s stock valued at $219,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.
Insider Transactions at Masco
In other Masco news, VP Kenneth G. Cole sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $54.95, for a total value of $549,500.00. Following the completion of the transaction, the vice president now directly owns 70,198 shares in the company, valued at $3,857,380.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Masco news, CFO John G. Sznewajs sold 20,361 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $54.00, for a total value of $1,099,494.00. Following the completion of the transaction, the chief financial officer now directly owns 187,784 shares of the company’s stock, valued at $10,140,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kenneth G. Cole sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $54.95, for a total value of $549,500.00. Following the completion of the transaction, the vice president now directly owns 70,198 shares of the company’s stock, valued at $3,857,380.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,111 shares of company stock worth $5,367,682. 1.50% of the stock is currently owned by insiders.
Masco Stock Down 1.7 %
Masco (NYSE:MAS – Free Report) last released its earnings results on Wednesday, April 26th. The construction company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.22. Masco had a net margin of 9.65% and a negative return on equity of 237.83%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the business earned $0.95 EPS. The firm’s revenue was down 10.1% compared to the same quarter last year. Analysts expect that Masco Co. will post 3.35 earnings per share for the current fiscal year.
Masco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 26th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $1.14 annualized dividend and a dividend yield of 2.07%. Masco’s dividend payout ratio (DPR) is 31.93%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on MAS shares. Barclays raised their price target on shares of Masco from $62.00 to $64.00 in a research report on Thursday, April 27th. Bank of America lowered their price objective on shares of Masco from $49.00 to $48.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 19th. StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. Jefferies Financial Group raised shares of Masco from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $65.00 in a research report on Friday, April 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Masco from $56.00 to $57.00 in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.71.
About Masco
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.
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