Masco's growth opportunities are driven by self-help measures and improving end markets.
Narrow-moat Masco concluded its fiscal 2016 with solid fourth-quarter results, and we thought the company had a terrific year. Full-year sales grew 3%, and the company expanded its adjusted operating margin 160 basis points to 14.6%. We think Masco’s margin performance is notable given that at its May 2015 investor day, the company set a 14% operating margin goal by 2017. After processing the company’s results, we have not materially changed any of our key valuation assumptions, and we are maint...Masco designs, manufactures and distributes home improvement and building products. The company's Plumbing Products include faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures and toilets. This segment also includes brass, copper and composite plumbing system components and other non-decorative plumbing products. The company's Decorative Architectural Products include cabinet and door hardware, functional hardware, wall plates, hook and hook rail products, and picture hanging accessories. This segment also includes decorative indoor and outdoor lighting fixtures, ceiling fans, landscape lighting and LED lighting systems.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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