Comerica Bank Sells 16,932 Shares of Masco Corp (MAS)

Comerica Bank reduced its stake in shares of Masco Corp (NYSE:MAS) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,573 shares of the construction company’s stock after selling 16,932 shares during the quarter. Comerica Bank’s holdings in Masco were worth $2,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acropolis Investment Management LLC bought a new position in Masco during the 3rd quarter worth $146,000. NuWave Investment Management LLC grew its stake in Masco by 3,600.9% during the 3rd quarter. NuWave Investment Management LLC now owns 4,182 shares of the construction company’s stock worth $153,000 after buying an additional 4,069 shares during the last quarter. Kovack Advisors Inc. bought a new position in Masco during the 3rd quarter worth $200,000. Point72 Hong Kong Ltd grew its stake in Masco by 8,377.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,595 shares of the construction company’s stock worth $209,000 after buying an additional 5,529 shares during the last quarter. Finally, Atria Investments LLC bought a new position in Masco during the 3rd quarter worth $207,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Shares of Masco stock opened at $30.85 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.71 and a debt-to-equity ratio of 14.35. The firm has a market capitalization of $9.42 billion, a PE ratio of 15.90, a PEG ratio of 0.90 and a beta of 1.56. Masco Corp has a fifty-two week low of $27.15 and a fifty-two week high of $46.44.

Masco (NYSE:MAS) last announced its quarterly earnings data on Tuesday, October 30th. The construction company reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.05). The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.17 billion. Masco had a net margin of 7.65% and a return on equity of 409.25%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. Equities analysts anticipate that Masco Corp will post 2.41 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Stockholders of record on Friday, October 12th were issued a $0.12 dividend. This is a positive change from Masco’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, October 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.56%. Masco’s dividend payout ratio is 24.74%.

A number of research analysts recently commented on MAS shares. Goldman Sachs Group started coverage on Masco in a research note on Tuesday, October 2nd. They set a “buy” rating and a $49.00 price objective for the company. Robert W. Baird set a $42.00 price target on Masco and gave the stock a “buy” rating in a research note on Tuesday, October 16th. B. Riley increased their price target on Masco from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Wells Fargo & Co reissued a “buy” rating on shares of Masco in a research note on Tuesday, July 31st. Finally, Cfra reissued a “buy” rating and issued a $46.00 price target on shares of Masco in a research note on Sunday, August 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.63.

In other news, insider Richard A. O’reagan sold 12,900 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $31.48, for a total value of $406,092.00. Following the completion of the sale, the insider now owns 61,443 shares in the company, valued at $1,934,225.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard A. Manoogian sold 50,000 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $31.30, for a total value of $1,565,000.00. Following the completion of the sale, the director now owns 575,961 shares of the company’s stock, valued at approximately $18,027,579.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,900 shares of company stock valued at $6,631,092. Insiders own 1.20% of the company’s stock.

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About Masco

Masco Corp. engages in the design, manufacture, marketing, and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows & Other Specialty Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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