Kanawha Capital Management LLC Purchases Shares of 2,675 Masco Co. (NYSE:MAS)

by · The Markets Daily

Kanawha Capital Management LLC acquired a new stake in Masco Co. (NYSE:MAS – Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,675 shares of the construction company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in shares of Masco by 0.9% during the 3rd quarter. Van ECK Associates Corp now owns 2,950,880 shares of the construction company’s stock worth $241,825,000 after buying an additional 26,259 shares during the period. VELA Investment Management LLC bought a new position in Masco in the third quarter valued at approximately $648,000. Farther Finance Advisors LLC increased its holdings in Masco by 6.7% during the third quarter. Farther Finance Advisors LLC now owns 2,031 shares of the construction company’s stock worth $170,000 after buying an additional 128 shares during the last quarter. Hills Bank & Trust Co lifted its position in shares of Masco by 0.7% in the third quarter. Hills Bank & Trust Co now owns 20,663 shares of the construction company’s stock valued at $1,734,000 after buying an additional 144 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Masco by 12.1% in the third quarter. Stephens Inc. AR now owns 4,593 shares of the construction company’s stock valued at $386,000 after purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Jefferies Financial Group raised their target price on shares of Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on shares of Masco from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price target on Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada downgraded Masco from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $79.00 to $80.00 in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.85.

View Our Latest Report on Masco

Insider Buying and Selling at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Masco Trading Up 0.8 %

NYSE:MAS opened at $80.79 on Tuesday. The company has a market cap of $17.43 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.58 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 1.12 and a debt-to-equity ratio of 20.74. The company has a 50 day simple moving average of $81.60 and a two-hundred day simple moving average of $74.56. Masco Co. has a 12 month low of $54.55 and a 12 month high of $86.70.

Masco (NYSE:MAS – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. Masco had a net margin of 10.54% and a return on equity of 615.54%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS. Research analysts forecast that Masco Co. will post 4.1 earnings per share for the current year.

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.44%. Masco’s payout ratio is 30.85%.

Masco Profile

(Free Report)

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.

See Also

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