Impax Asset Management Group plc Sells 50,580 Shares of Masco Corporation (NYSE:MAS)

Impax Asset Management Group plc lowered its stake in Masco Corporation (NYSE:MAS - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,244,341 shares of the construction company's stock after selling 50,580 shares during the quarter. Impax Asset Management Group plc owned 1.06% of Masco worth $156,071,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MAS. Global X Japan Co. Ltd. increased its stake 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 acquiring an additional 208 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Masco in the 1st quarter valued at $29,000. Lee Danner & Bass Inc. bought a new stake in shares of Masco in the 4th quarter valued at $42,000. GeoWealth Management LLC increased its stake in shares of Masco by 89.0% in the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock valued at $50,000 after acquiring an additional 322 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Masco by 74.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 774 shares of the construction company's stock valued at $56,000 after acquiring an additional 330 shares in the last quarter. Institutional investors own 93.91% of the company's stock.

Masco Price Performance

NYSE MAS opened at $66.43 on Friday. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $86.70. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.53 and a beta of 1.19. The company has a fifty day moving average price of $63.44 and a 200-day moving average price of $69.01.

Masco (NYSE:MAS - Get Free Report) last posted its earnings results 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). Masco had a return on equity of 1,320.76% and a net margin of 10.30%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company earned $0.93 EPS. The business's revenue was down 6.5% compared to the same quarter last year. On average, research analysts anticipate that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.87%. Masco's payout ratio is 33.88%.

Wall Street Analysts Forecast Growth

MAS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Loop Capital set a $62.00 price target on shares of Masco and gave the company a "hold" rating in a research note on Thursday, April 24th. Truist Financial decreased their price target on shares of Masco from $92.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Finally, Evercore ISI decreased 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 note on Thursday, April 24th. Ten equities 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. According to data from MarketBeat.com, Masco currently has an average rating of "Hold" and a consensus target price of $73.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.