As of the fourth quarter in 2023, SG Americas Securities LLC has chosen to reduce its holdings in shares of Masonite International Co. by a staggering 75.5%. According to the company’s latest disclosure with the Securities and Exchange Commission, the firm owned 1,622 shares of the company’s stock after selling over 5,000 shares within the given period. This resulted in SG Americas Securities LLC’s holdings being valued at $131,000 at the end of this particular reporting period.
Masonite International Corp is known for its manufacturing of interior and exterior doors intended for both residential and architectural use. The company operates through geographical segments such as North American Residential, Europe, Architectural, Corporate and Other. The last segment includes unallocated corporate costs as well as insignificant operating segments.
The past few months have also shown that various insiders have opted to remove some of their shares from Masonite International’s stockholding portfolio. In one instance on Friday, March 3rd, Director Robert J Byrne sold off 2,500 shares of Masonite International stock at an average price of $90.58 which is equivalent to a total transaction amounting to $226,450.00. Consequently, following this transaction Byrne now only owns 946 shares in Masonite International that equates to approximately $85,688.68 worth.
Another insider named Alexander Albert Legall also followed suit with his sale on Thursday May 11th where he chose to sell off 1,700 shares priced at $92.01 per share which wavered his total transaction amounting up to $156,417. Following this event whereby Legall let go some of his personal stocks in the company; he now has possession over just over 3K worth of stocks equating to roughly $299K
Accordingly SEC filings reveal that there have been no more than four insider trading activities for Masonite International Corp since January 2019. Out of this sum, four resulted in a sell-out for the shares with just one being an outright purchase of the remaining stocks. Also, it was revealed that the Corporate insiders now own 1.21% of Masonite International’s stock.
It remains unclear as to why SG Americas Securities LLC decided to reduce their ownership in Masonite International Co. by such a considerable percentage but industry experts are aware that shifting forces within key economic indicators coupled with disruptions from climate change have made such moves necessary as companies strive to stay ahead of financial turbulence lingering within market tendencies.
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Masonite International Corp. Shows Growth Potential for Institutional Investors
Masonite International Corp. is a leader in the manufacturing of interior and exterior doors for both residential and architectural purposes. The company operates through four geographical segments, including North American Residential, Europe, Architectural, and Corporate and Other. With a market capitalization of $2.02 billion, the company has been making headway in the stock market.
Several institutional investors have been noticing Masonite International’s growth potential, with Ensign Peak Advisors Inc recently purchasing a new stake worth $32,000 during the third quarter. Federated Hermes Inc also boosted its holdings by 55%, currently owning 513 shares worth $37,000 after purchasing an additional 182 shares.
Point72 Hong Kong Ltd and Covestor Ltd have both recently invested in Masonite International during the first quarter with new stakes worth $46,000 and $55,000 respectively. Captrust Financial Advisors further boosted their holdings by 18.2% during the second quarter to now own 1,363 shares of the company’s stock worth $105,000 after purchasing an additional 210 shares.
Currently, hedge funds and other institutional investors hold 98.67% of Masonite International’s stock while equities research analysts have been weighing in on DOOR shares lately. Royal Bank of Canada increased their target price from $95 to $105 with a “sector perform” rating while Stifel Nicolaus gave a target price increase from $102 to $115. Robert W Baird went even further giving it a target price increase from $110 to $115.
However, StockNews.com has downgraded shares from “buy” to “hold.” Bloomberg.com reveals that Masonite International holds a consensus rating of “Moderate Buy” with an average price target of $106.43 based on ratings given by six analysts.
Masonite International (NYSE:DOOR) has experienced significant growth recently opening at a rate of $91.28 on Tuesday with a fifty-two week low of $65.71 and a fifty-two week high of $101.72. With a debt-to-equity ratio of 1.17, quick ratio of 2.17 and current ratio of 3.33, the company is poised to continue its upward trajectory.
The company’s earnings for the quarter ending May 8th exceeded expectations with $1.88 earnings per share (EPS) compared to the consensus estimate of $1.58, resulting in an increase of net margin by 6.40% and return on equity by 28%. Predictions for Masonite International Co.’s future prospects indicate it will post an EPS of 8.11 for the current fiscal year.
Overall, Masonite International remains an attractive choice for investors looking to gain exposure in the manufacturing industry within North America Residential, Europe, Architectural, and Corporate and Other sectors while remaining vigilant about risks involved when investing in the stock market.
