Concurrent Investment Advisors LLC Buys New Position in Masco Corporation (NYSE:MAS)

Concurrent Investment Advisors LLC acquired a new position in shares of Masco Corporation (NYSE:MAS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,258 shares of the construction company's stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Masco by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,129,771 shares of the construction company's stock valued at $371,265,000 after buying an additional 58,739 shares during the last quarter. Northern Trust Corp grew its position in Masco by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock valued at $283,070,000 after buying an additional 337,164 shares during the last quarter. Invesco Ltd. grew its position in Masco by 14.7% in the 4th quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after buying an additional 360,931 shares during the last quarter. Deutsche Bank AG grew its position in Masco by 12.4% in the 4th quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company's stock valued at $200,456,000 after buying an additional 305,156 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Masco by 6.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,463,217 shares of the construction company's stock valued at $178,756,000 after buying an additional 142,318 shares during the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MAS. Royal Bank Of Canada lowered their price objective on shares of Masco from $74.00 to $62.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird lowered their price objective on shares of Masco from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Loop Capital set a $62.00 price objective on shares of Masco and gave the company a "hold" rating in a research report on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $80.00 price objective (down from $91.00) on shares of Masco in a research report on Thursday, April 24th. Finally, Barclays set a $71.00 target price on shares of Masco and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Masco presently has an average rating of "Hold" and an average price target of $73.63.

Masco Stock Down 2.5%

Shares of Masco stock traded down $1.66 on Friday, hitting $65.84. The company's stock had a trading volume of 1,808,047 shares, compared to its average volume of 1,832,589. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70. The firm has a fifty day moving average price of $63.97 and a 200-day moving average price of $68.74. The company has a market capitalization of $13.89 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.57 and a beta of 1.19.

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

Masco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 23rd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, May 23rd. Masco's payout ratio is 33.88%.

Masco 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.