Summit Partners Public Asset Management Lowers stake in Masco Corp (MAS)

Masco Corp (MAS) : Summit Partners Public Asset Management reduced its stake in Masco Corp by 40.43% during the most recent quarter end. The investment management company now holds a total of 140,000 shares of Masco Corp which is valued at $5,049,800 after selling 95,000 shares in Masco Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Masco Corp makes up approximately 1.73% of Summit Partners Public Asset Management’s portfolio.

Other Hedge Funds, Including , Bergankdv Wealth Management boosted its stake in MAS in the latest quarter, The investment management firm added 2,065 additional shares and now holds a total of 19,559 shares of Masco Corp which is valued at $705,493. Masco Corp makes up approx 0.30% of Bergankdv Wealth Management’s portfolio.Commerce Bank reduced its stake in MAS by selling 59 shares or 0.56% in the most recent quarter. The Hedge Fund company now holds 10,561 shares of MAS which is valued at $382,097. Masco Corp makes up approx 0.01% of Commerce Bank’s portfolio.Greenhaven Associates Inc reduced its stake in MAS by selling 741,402 shares or 28.16% in the most recent quarter. The Hedge Fund company now holds 1,891,568 shares of MAS which is valued at $69,155,726. Masco Corp makes up approx 1.30% of Greenhaven Associates Inc’s portfolio.Aberdeen Asset Management Plcuk reduced its stake in MAS by selling 74,238 shares or 24.15% in the most recent quarter. The Hedge Fund company now holds 233,170 shares of MAS which is valued at $8,524,695. Masco Corp makes up approx 0.03% of Aberdeen Asset Management Plcuk’s portfolio.Fox Run Management L.l.c. reduced its stake in MAS by selling 7,100 shares or 39.01% in the most recent quarter. The Hedge Fund company now holds 11,100 shares of MAS which is valued at $381,063. Masco Corp makes up approx 0.18% of Fox Run Management L.l.c.’s portfolio.

Masco Corp closed down -0.03 points or -0.08% at $35.28 with 2,448,035 shares getting traded on Wednesday. Post opening the session at $35.24, the shares hit an intraday low of $35.07 and an intraday high of $35.42 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Masco Corp reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.43. The company had revenue of $2001.00 million for the quarter, compared to analysts expectations of $1997.53 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 $0.38 EPS.

Many Wall Street Analysts have commented on Masco Corp. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 41 from a previous price target of $35 .Company shares were Reiterated by FBR Capital on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $36 .FBR Capital Initiated Masco Corp on Jun 1, 2016 to “Outperform”, Price Target of the shares are set at $36.

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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