Bank of New York Mellon Corp lowered its stake in Masco Corporation (NYSE:MAS - Free Report) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,003,659 shares of the construction company's stock after selling 92,653 shares during the period. Bank of New York Mellon Corp owned 0.95% of Masco worth $139,334,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in MAS. Global X Japan Co. Ltd. increased its stake in shares of Masco by 120.2% in the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after acquiring an additional 208 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of Masco during the first quarter worth $29,000. Lee Danner & Bass Inc. purchased a new position in shares of Masco during the fourth quarter worth $42,000. GeoWealth Management LLC raised its holdings in shares of Masco by 89.0% during the fourth 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 last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Masco during the first quarter worth $56,000. Hedge funds and other institutional investors own 93.91% of the company's stock.
Masco Price Performance
MAS traded down $1.66 on Friday, reaching $65.84. 1,808,047 shares of the company's stock were exchanged, compared to its average volume of 1,830,798. The stock has a market cap of $13.89 billion, a PE ratio of 17.99, a P/E/G ratio of 2.51 and a beta of 1.19. Masco Corporation has a twelve month low of $56.55 and a twelve month high of $86.70. The stock's fifty day moving average price is $63.97 and its 200-day moving average price is $68.71.
Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.84 billion. Masco had a return on equity of 1,320.76% and a net margin of 10.30%. The business's revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. As a group, research analysts predict that Masco Corporation will post 4.34 earnings per share for the current fiscal year.
Masco Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 23rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.24 annualized dividend and a yield of 1.88%. Masco's payout ratio is 33.88%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of Masco from $82.00 to $73.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Robert W. Baird reduced their target price on shares of Masco from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Barclays set a $71.00 price objective on shares of Masco and gave the company an "overweight" rating in a report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on shares of Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Masco in a report on Wednesday, May 28th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $73.63.
Check Out Our Latest Report on Masco
About Masco
(
Free Report)
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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