Renaissance Investment Group Lowers stake in Masco Corp (MAS)

Masco Corp (MAS) : Renaissance Investment Group reduced its stake in Masco Corp by 1.84% during the most recent quarter end. The investment management company now holds a total of 149,074 shares of Masco Corp which is valued at $4,973,109 after selling 2,797 shares in Masco Corp , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Masco Corp makes up approximately 2.43% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Harbour Capital Advisors added MAS to its portfolio by purchasing 13,250 company shares during the most recent quarter which is valued at $442,020. Masco Corp makes up approx 0.24% of Harbour Capital Advisors’s portfolio.Eagle Asset Management Inc reduced its stake in MAS by selling 829 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 174,026 shares of MAS which is valued at $5,782,884. Masco Corp makes up approx 0.04% of Eagle Asset Management Inc’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in MAS in the latest quarter, The investment management firm added 14,771 additional shares and now holds a total of 75,999 shares of Masco Corp which is valued at $2,574,846. Masco Corp makes up approx 0.06% of Oregon Public Employees Retirement Fund’s portfolio.Raymond James Trust N.a. reduced its stake in MAS by selling 225 shares or 2.1% in the most recent quarter. The Hedge Fund company now holds 10,472 shares of MAS which is valued at $354,791. Masco Corp makes up approx 0.03% of Raymond James Trust N.a.’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in MAS by selling 1,815 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 84,316 shares of MAS which is valued at $2,825,429. Masco Corp makes up approx 0.06% of Exxonmobil Investment Management Inc Tx’s portfolio.

Masco Corp closed down -0.65 points or -1.92% at $33.23 with 29,21,545 shares getting traded on Tuesday. Post opening the session at $34.23, the shares hit an intraday low of $33.12 and an intraday high of $34.47 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. Masco Corp was Initiated by Wells Fargo to “Outperform” on Sep 29, 2016. BofA/Merrill Resumed Masco Corp on Sep 23, 2016 to “Buy”, Price Target of the shares are set at $41.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 .

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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