Renaissance Group Lowers stake in Masco Corp (MAS)

Masco Corp (MAS) : Renaissance Group reduced its stake in Masco Corp by 3.42% during the most recent quarter end. The investment management company now holds a total of 1,059,215 shares of Masco Corp which is valued at $33,577,116 after selling 37,470 shares in Masco Corp , the firm said in a disclosure report filed with the SEC on May 3, 2016.Masco Corp makes up approximately 1.38% of Renaissance Group’s portfolio.

Other Hedge Funds, Including , Parkside Financial Bank Trust boosted its stake in MAS in the latest quarter, The investment management firm added 28 additional shares and now holds a total of 559 shares of Masco Corp which is valued at $17,720. Masco Corp makes up approx 0.01% of Parkside Financial Bank Trust’s portfolio.Aperio Group boosted its stake in MAS in the latest quarter, The investment management firm added 20,269 additional shares and now holds a total of 172,344 shares of Masco Corp which is valued at $5,292,684. Masco Corp makes up approx 0.04% of Aperio Group’s portfolio. 1st Source Bank added MAS to its portfolio by purchasing 29,363 company shares during the most recent quarter which is valued at $901,738. Masco Corp makes up approx 0.10% of 1st Source Bank’s portfolio.Parsons Capital Management Incri boosted its stake in MAS in the latest quarter, The investment management firm added 104 additional shares and now holds a total of 8,054 shares of Masco Corp which is valued at $247,338. Masco Corp makes up approx 0.03% of Parsons Capital Management Incri’s portfolio.

Masco Corp opened for trading at $31.91 and hit $32.21 on the upside on Tuesday, eventually ending the session at $32.2, with a gain of 1.51% or 0.48 points. The heightened volatility saw the trading volume jump to 26,25,905 shares. Company has a market cap of $10,714 M.

On the company’s financial health, Masco Corp reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.26. The company had revenue of $1720.00 million for the quarter, compared to analysts expectations of $1725.19 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Masco Corp. Company shares were Reiterated by FBR Capital on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 36 from a previous price target of $32 .Company shares were Reiterated by MKM Partners on Apr 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 29 from a previous price target of $27 .Shares were Reiterated by Barclays on Feb 10, 2016 to “Overweight” and Lowered the Price Target to $ 31 from a previous price target of $32 .

Masco Corporation manufactures distributes and installs home improvement and building products. The Company’s segments include Cabinets and Related Products Plumbing Products Installation and Other Services Decorative Architectural Products and Other Specialty Products. Its Cabinets and Related Products includes assembled kitchen and bath cabinets and home office workstations entertainment centers storage products; bookcases and kitchen utility products. Its Plumbing Products include faucets plumbing fittings and valves showerheads and hand showers bathtubs and shower enclosures toilets and spas. The Installation and Other Services includes the sale installation and distribution of insulation and other building products. Its Decorative Architectural Products include paints and stains and cabinet door window and other hardware. Its Other Specialty Products include windows window frame components and patio doors staple gun tackers staples and other fastening tools.

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