M&T Bank Corp lessened its stake in Masco Corp (NYSE:MAS) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,714 shares of the construction company’s stock after selling 2,626 shares during the period. M&T Bank Corp’s holdings in Masco were worth $997,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in MAS. APG Asset Management N.V. boosted its position in Masco by 32.1% in the 4th quarter. APG Asset Management N.V. now owns 6,489,828 shares of the construction company’s stock worth $237,478,000 after purchasing an additional 1,577,500 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in Masco by 41.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,814,420 shares of the construction company’s stock worth $109,791,000 after purchasing an additional 824,665 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Masco by 6.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,065,004 shares of the construction company’s stock worth $506,663,000 after purchasing an additional 763,078 shares in the last quarter. Bank of Montreal Can boosted its position in Masco by 308.9% in the 4th quarter. Bank of Montreal Can now owns 855,369 shares of the construction company’s stock worth $37,585,000 after purchasing an additional 646,158 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Masco by 147.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 707,534 shares of the construction company’s stock worth $27,589,000 after purchasing an additional 421,631 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.
Masco Corp (MAS) traded down $0.72 during midday trading on Wednesday, reaching $41.57. The company had a trading volume of 2,183,814 shares, compared to its average volume of 3,450,000. Masco Corp has a 1 year low of $32.97 and a 1 year high of $46.44. The company has a current ratio of 1.97, a quick ratio of 1.49 and a debt-to-equity ratio of 16.87. The firm has a market cap of $13,080.00, a P/E ratio of 25.82, a P/E/G ratio of 1.07 and a beta of 1.51.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Friday, January 12th were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, January 11th. Masco’s dividend payout ratio is currently 26.09%.
Several research firms have commented on MAS. Credit Suisse Group restated a “neutral” rating and issued a $46.00 price objective (up previously from $36.00) on shares of Masco in a research report on Monday, January 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. downgraded Masco from an “overweight” rating to a “neutral” rating in a research note on Friday, January 5th. Zacks Investment Research raised Masco from a “sell” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Wednesday, January 3rd. Deutsche Bank upped their target price on Masco from $39.00 to $43.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada set a $46.00 target price on Masco and gave the stock a “buy” rating in a research note on Friday, February 9th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $44.60.
In related news, insider Joseph B. Gross sold 10,203 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $42.95, for a total value of $438,218.85. Following the completion of the transaction, the insider now directly owns 51,020 shares of the company’s stock, valued at approximately $2,191,309. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J Michael Losh sold 5,592 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $42.02, for a total value of $234,975.84. Following the completion of the sale, the director now owns 69,926 shares of the company’s stock, valued at $2,938,290.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,150 shares of company stock valued at $4,462,062. 1.30% of the stock is owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: This story was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://stocknewstimes.com/2018/03/14/masco-corp-mas-shares-sold-by-mt-bank-corp.html.
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.
Receive News & Ratings for Masco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masco and related companies with MarketBeat.com's FREE daily email newsletter.