Castle Rock Wealth Management LLC Invests $216,000 in Masco Corp (NYSE:MAS) Stock

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Castle Rock Wealth Management LLC purchased a new stake in Masco Corp (NYSE:MAS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,779 shares of the construction company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently bought and sold shares of the company. Glen Harbor Capital Management LLC boosted its position in Masco by 58.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 44,044 shares of the construction company’s stock worth $1,648,000 after acquiring an additional 16,324 shares during the period. OppenheimerFunds Inc. boosted its stake in Masco by 3,816.2% during the second quarter. OppenheimerFunds Inc. now owns 699,626 shares of the construction company’s stock worth $26,180,000 after acquiring an additional 681,761 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Masco by 52.3% during the second quarter. Baird Financial Group Inc. now owns 24,635 shares of the construction company’s stock worth $922,000 after acquiring an additional 8,462 shares in the last quarter. Advisors Capital Management LLC boosted its stake in Masco by 20.8% during the second quarter. Advisors Capital Management LLC now owns 222,648 shares of the construction company’s stock worth $8,332,000 after acquiring an additional 38,406 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in Masco by 6.7% during the second quarter. Korea Investment CORP now owns 577,546 shares of the construction company’s stock worth $21,612,000 after acquiring an additional 36,400 shares in the last quarter. 89.48% of the stock is owned by institutional investors and hedge funds.

In other Masco news, CFO John G. Sznewajs sold 96,869 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 237,578 shares of the company’s stock, valued at $9,253,663.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph B. Gross sold 1,286 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $39.91, for a total transaction of $51,324.26. Following the sale, the insider now directly owns 48,740 shares of the company’s stock, valued at $1,945,213.40. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Several equities research analysts recently commented on MAS shares. Zacks Investment Research raised shares of Masco from a “sell” rating to a “hold” rating in a research note on Monday, July 9th. ValuEngine lowered shares of Masco from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Citigroup upgraded shares of Masco from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, June 19th. Cfra reiterated a “buy” rating and issued a $46.00 target price on shares of Masco in a research note on Sunday, August 5th. Finally, Royal Bank of Canada initiated coverage on shares of Masco in a research note on Wednesday, June 27th. They issued a “sector perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. Masco has an average rating of “Buy” and an average price target of $45.76.

Shares of NYSE MAS opened at $38.63 on Thursday. 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 Corp has a 52-week low of $35.79 and a 52-week high of $46.44. The company has a market capitalization of $11.71 billion, a PE ratio of 19.91, a PEG ratio of 1.03 and a beta of 1.42.

Masco (NYSE:MAS) last released its quarterly earnings data on Tuesday, July 31st. The construction company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). Masco had a net margin of 7.41% and a return on equity of 490.27%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. research analysts anticipate that Masco Corp will post 2.51 earnings per share for the current year.

Masco Company Profile

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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