Insider Selling: Masco Corp (NYSE:MAS) Director Sells $5,643,414.54 in Stock

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Masco Corp (NYSE:MAS) Director Richard A. Manoogian sold 123,138 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $45.83, for a total value of $5,643,414.54. Following the completion of the transaction, the director now directly owns 506,513 shares of the company’s stock, valued at approximately $23,213,490.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of MAS stock opened at $46.06 on Monday. The business’s 50 day simple moving average is $44.64 and its 200 day simple moving average is $40.58. Masco Corp has a one year low of $27.03 and a one year high of $46.95. The stock has a market capitalization of $13.19 billion, a PE ratio of 18.42, a PEG ratio of 2.42 and a beta of 1.46. The company has a debt-to-equity ratio of 120.48, a current ratio of 1.46 and a quick ratio of 0.98.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, October 30th. The construction company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). Masco had a net margin of 8.27% and a return on equity of 1,500.49%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts expect that Masco Corp will post 2.23 earnings per share for the current year.

Masco announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 16.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, October 11th were issued a $0.135 dividend. The ex-dividend date was Thursday, October 10th. This is a boost from Masco’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a yield of 1.17%. Masco’s dividend payout ratio is presently 21.60%.

A number of hedge funds have recently made changes to their positions in MAS. Rational Advisors LLC boosted its holdings in Masco by 111.6% in the second quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock valued at $26,000 after acquiring an additional 347 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in Masco by 94.5% in the second quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock valued at $27,000 after acquiring an additional 343 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in Masco in the second quarter valued at approximately $30,000. Redhawk Wealth Advisors Inc. bought a new stake in Masco in the second quarter valued at approximately $30,000. Finally, Usca Ria LLC bought a new stake in Masco in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

MAS has been the subject of a number of analyst reports. SunTrust Banks dropped their price target on Masco from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. TheStreet raised Masco from a “c+” rating to a “b-” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on Masco from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Barclays upped their price objective on Masco from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Zelman & Associates downgraded Masco from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.15.

About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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