Notable Insider Selling at Masco Corp (MAS) and 2 Other Companies

Masco Corp (NYSE:MAS) had a member of its Board of Directors unload a massive block of shares last week. Richard A. Manoogian, Chairman Emeritus and former Chief Executive Officer, discarded 150,000 shares on Thursday at prices varying from $28.90 to $29.14 per share, cutting his overall holding to 664,611 shares.

Masco is a widely-known designer, manufacturer, and distributor of branded home improvement and building products such as KRAFTMAID and MERILLAT cabinets; DELTA, PEERLESS and HANSGROHE faucets, and bath and shower fixtures, among other things. Shares of Masco are up by 26% over the past 12 months despite experiencing a sharp pullback during December and January. The company generated net sales of $7.14 billion in 2015, up from $7.01 billion in 2014, $6.76 billion in 2013 and $6.29 billion in 2012. Last year’s sales growth was mainly driven by increased repair and remodel activity and new home construction in the United States and Europe, as well as favorable product mix, higher net selling prices, and acquisitions. The appreciation of the green buck relative to the Euro adversely impacted Masco’s financial performance in 2015. The management of the company anticipates that the demand for Masco’s branded products will remain quite solid, mainly owing to the sustained increase in both repair and remodel demand, and continued improvement in new home construction. The shares of the maker of building and home improvement products are trading at 16.60-times expected earnings, notably below the forward P/E ratio of 19.00 for home improvement retailers as a whole. The number of funds in our system with stakes in Masco increased to 40 from 38 during the December quarter. Cliff Asness’ AQR Capital Management upped its stake in Masco Corp (NYSE:MAS) by 66% during the October-to-December period, to 7.77 million shares.