Kovack Advisors Inc. Takes $200,000 Position in Masco Corp (MAS)

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Kovack Advisors Inc. bought a new stake in Masco Corp (NYSE:MAS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,478 shares of the construction company’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAS. Iridian Asset Management LLC CT lifted its stake in Masco by 4,126.8% in the second quarter. Iridian Asset Management LLC CT now owns 3,100,364 shares of the construction company’s stock valued at $116,016,000 after acquiring an additional 3,027,014 shares during the last quarter. Millennium Management LLC lifted its stake in Masco by 2,720.8% in the first quarter. Millennium Management LLC now owns 2,357,770 shares of the construction company’s stock valued at $95,348,000 after acquiring an additional 2,274,184 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Masco by 147.3% in the second quarter. Point72 Asset Management L.P. now owns 2,312,287 shares of the construction company’s stock valued at $86,526,000 after acquiring an additional 1,377,136 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Masco by 1,747.5% in the second quarter. Advisors Asset Management Inc. now owns 1,361,542 shares of the construction company’s stock valued at $2,598,000 after acquiring an additional 1,287,847 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Masco by 189.4% in the second quarter. Janus Henderson Group PLC now owns 1,823,176 shares of the construction company’s stock valued at $68,217,000 after acquiring an additional 1,193,132 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

In related news, CFO John G. Sznewajs sold 96,869 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $38.95, for a total transaction of $3,773,047.55. Following the transaction, the chief financial officer now owns 237,578 shares of the company’s stock, valued at $9,253,663.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph B. Gross sold 1,286 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $39.91, for a total transaction of $51,324.26. Following the transaction, the insider now directly owns 48,740 shares in the company, valued at approximately $1,945,213.40. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

A number of equities analysts have recently commented on MAS shares. Zacks Investment Research raised shares of Masco from a “sell” rating to a “hold” rating in a research report on Monday, July 9th. ValuEngine lowered shares of Masco from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Citigroup raised shares of Masco from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, June 19th. Longbow Research lowered shares of Masco from a “buy” rating to a “neutral” rating in a research report on Friday. Finally, Cfra reissued a “buy” rating and issued a $46.00 price target on shares of Masco in a research report on Sunday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $45.67.

Shares of MAS stock opened at $32.29 on Friday. Masco Corp has a 1 year low of $31.88 and a 1 year high of $46.44. The firm has a market cap of $11.25 billion, a P/E ratio of 16.76, a P/E/G ratio of 0.99 and a beta of 1.39. The company has a debt-to-equity ratio of 23.57, a quick ratio of 1.10 and a current ratio of 1.67.

Masco (NYSE:MAS) last announced its earnings results on Tuesday, July 31st. The construction company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Masco had a return on equity of 490.27% and a net margin of 7.41%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm posted $0.60 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. Analysts predict that Masco Corp will post 2.51 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Friday, October 12th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, October 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.49%. This is a positive change from Masco’s previous quarterly dividend of $0.11. Masco’s payout ratio is 21.65%.

About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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