Masco Corporation (NYSE:MAS) Shares Purchased by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN grew its holdings in Masco Corporation (NYSE:MAS - Free Report) by 252.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,749 shares of the construction company's stock after acquiring an additional 6,268 shares during the quarter. Masco accounts for approximately 0.3% of Horizon Bancorp Inc. IN's holdings, making the stock its 28th largest holding. Horizon Bancorp Inc. IN's holdings in Masco were worth $608,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Global X Japan Co. Ltd. raised its position in shares of Masco by 120.2% in the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock valued at $26,000 after purchasing an additional 208 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Masco during the fourth quarter worth about $42,000. GeoWealth Management LLC lifted 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 period. SRS Capital Advisors Inc. boosted its position in Masco by 74.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 774 shares of the construction company's stock valued at $56,000 after buying an additional 330 shares during the last quarter. Finally, South Plains Financial Inc. acquired a new position in Masco in the 4th quarter worth approximately $70,000. Hedge funds and other institutional investors own 93.91% of the company's stock.

Masco Price Performance

Shares of NYSE:MAS traded up $0.59 during midday trading on Thursday, reaching $63.78. 2,263,576 shares of the company's stock traded hands, compared to its average volume of 1,833,771. The company has a fifty day simple moving average of $62.73 and a two-hundred day simple moving average of $69.64. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $86.70. The company has a market cap of $13.45 billion, a P/E ratio of 17.43, a PEG ratio of 2.43 and a beta of 1.19. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.09 and a current ratio of 1.75.

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

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 23rd were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, May 23rd. Masco's payout ratio is 33.88%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MAS. UBS Group restated a "buy" rating and set a $80.00 price objective (down from $91.00) on shares of Masco in a research note on Thursday, April 24th. Robert W. Baird decreased 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. Royal Bank Of Canada lowered their price target on shares of Masco from $74.00 to $62.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Loop Capital set a $62.00 price objective on Masco and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Evercore ISI lowered their target price on Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Ten research 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 MarketBeat, Masco currently has a consensus rating of "Hold" and an average target price of $73.63.

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.