TopBuild Begins Trading As Independent Company Following Spin-Off From Masco

(RTTNews) - Shares of TopBuild Corp. (BLD) began "regular-way" trading on the New York Stock Exchange Wednesday following completion of its spin-off from Masco Corp. (MAS) into an independent, publicly-traded company.

TopBuild is comprised of the former Masco Contractor Services business, now called TruTeam, an installer of insulation, and Service Partners, a distributor of residential insulation products and related accessories. TopBuild reported revenue of $1.5 billion in 2014, which represents a compound annual growth rate of 12% since 2012.

After market close on June 30, Masco Corporation distributed to its shareholders one TopBuild share for every nine Masco shares held at time of close of business on the record date of June 19.