Cambiar Investors LLC Decreases Stock Position in Masco Corporation $MAS

Key Points

• Cambiar Investors LLC has reduced its stake in Masco Corporation by 11.9%, selling 17,582 shares and now holding approximately 0.06% of the company valued at $9,074,000.
• Masco recently reported $1.30 earnings per share for the last quarter, surpassing analysts' estimates of $1.08, despite a 1.9% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.31 per share, with a dividend yield of 1.7%, to be paid on August 25th, 2023.

Cambiar Investors LLC reduced its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,484 shares of the construction company's stock after selling 17,582 shares during the period. Cambiar Investors LLC owned 0.06% of Masco worth $9,074,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Harvest Investment Advisors LLC raised its holdings in Masco by 0.7% during the 1st quarter. Harvest Investment Advisors LLC now owns 23,063 shares of the construction company's stock valued at $1,604,000 after buying an additional 165 shares during the period. Evermay Wealth Management LLC raised its holdings in Masco by 25.1% during the 1st quarter. Evermay Wealth Management LLC now owns 996 shares of the construction company's stock valued at $69,000 after buying an additional 200 shares during the period. Exchange Traded Concepts LLC raised its holdings in Masco by 8.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,707 shares of the construction company's stock valued at $188,000 after buying an additional 204 shares during the period. Wedmont Private Capital raised its holdings in Masco by 4.9% during the 1st quarter. Wedmont Private Capital now owns 4,472 shares of the construction company's stock valued at $311,000 after buying an additional 208 shares during the period. Finally, Global X Japan Co. Ltd. raised its holdings 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. 93.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company upped their price objective on Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Jefferies Financial Group cut their price objective on Masco from $64.00 to $62.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada upped their price objective on Masco from $62.00 to $71.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Loop Capital reaffirmed a "hold" rating and issued a $73.00 price objective (up previously from $62.00) on shares of Masco in a research report on Monday, August 4th. Finally, Oppenheimer set a $79.00 price objective on Masco and gave the company an "outperform" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $74.13.

Masco Stock Down 2.0%

Shares of MAS traded down $1.4560 during midday trading on Wednesday, reaching $73.0240. 2,418,619 shares of the stock were exchanged, compared to its average volume of 2,165,813. Masco Corporation has a 52 week low of $56.55 and a 52 week high of $86.70. The company's 50 day moving average is $66.66 and its two-hundred day moving average is $67.37. The company has a market capitalization of $15.29 billion, a P/E ratio of 19.37, a PEG ratio of 2.66 and a beta of 1.16. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 19.63.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.22. Masco had a return on equity of 1,519.31% and a net margin of 10.51%.The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the company earned $1.20 earnings per share. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. On average, sell-side analysts anticipate that Masco Corporation will post 4.34 earnings per share for the current year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. Masco's dividend payout ratio (DPR) is presently 32.89%.

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.