53,375 Shares in Masco Corporation (NYSE:MAS) Acquired by Lipe & Dalton

Lipe & Dalton bought a new position in shares of Masco Corporation (NYSE:MAS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 53,375 shares of the construction company's stock, valued at approximately $3,712,000. Masco accounts for about 2.1% of Lipe & Dalton's portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAS. Global X Japan Co. Ltd. boosted its position in Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock valued at $26,000 after buying an additional 208 shares during the period. Alpine Bank Wealth Management purchased a new stake in Masco during the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Masco during the 1st quarter valued at $33,000. Lee Danner & Bass Inc. purchased a new stake in shares of Masco in the 4th quarter worth about $42,000. Finally, GeoWealth Management LLC lifted its position in shares of Masco by 89.0% in the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock worth $50,000 after purchasing an additional 322 shares during the period. Institutional investors own 93.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird dropped their target price on shares of Masco from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on shares of Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Barclays lifted their price target on shares of Masco from $71.00 to $77.00 and gave the company an "overweight" rating in a research report on Tuesday. Truist Financial lowered their price target on shares of Masco from $92.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Evercore ISI lowered their price target on shares of Masco from $82.00 to $71.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $74.03.

Masco Stock Performance

Shares of MAS stock traded down $0.11 during trading hours on Friday, reaching $65.77. The company had a trading volume of 187,915 shares, compared to its average volume of 1,820,744. The business has a fifty day moving average price of $64.31 and a 200-day moving average price of $68.52. Masco Corporation has a one year low of $56.55 and a one year high of $86.70. The firm has a market cap of $13.87 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.47 and a beta of 1.19.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). Masco had a return on equity of 1,320.76% and a net margin of 10.30%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The business's revenue was down 6.5% compared to the same quarter last year. Equities research analysts forecast that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 23rd were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.89%. Masco's dividend payout ratio is presently 33.88%.

Masco Company Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.

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