ING Groep NV Cuts Position in Masco Corporation (NYSE:MAS)

Key Points

• ING Groep NV reduced its stake in Masco Corporation by 54.8%, now holding 46,268 shares valued at approximately $3.2 million.
• JPMorgan Chase & Co. increased its price target for Masco shares from $65.00 to $74.00, while the stock currently has a consensus rating of "Hold" among analysts.
• Masco recently announced a quarterly dividend of $0.31, representing an annual yield of 1.8% and a payout ratio of 32.89%.

ING Groep NV lessened its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 54.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,268 shares of the construction company's stock after selling 56,088 shares during the period. ING Groep NV's holdings in Masco were worth $3,217,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Masco by 10.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,008 shares of the construction company's stock worth $1,580,000 after acquiring an additional 2,184 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Masco by 2.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,007 shares of the construction company's stock valued at $769,000 after buying an additional 270 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Masco by 11.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 86,131 shares of the construction company's stock valued at $5,990,000 after buying an additional 8,508 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Masco by 1.0% in the 1st quarter. State of Alaska Department of Revenue now owns 24,832 shares of the construction company's stock valued at $1,726,000 after buying an additional 235 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Masco by 8.2% in 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 in the last quarter. Institutional investors and hedge funds own 93.91% of the company's stock.

Masco Stock Performance

Masco stock traded down $0.04 during trading hours on Friday, reaching $69.31. 1,435,676 shares of the stock were exchanged, compared to its average volume of 2,568,429. The stock has a market cap of $14.51 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.53 and a beta of 1.16. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.14 and a current ratio of 1.82. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70. The firm's 50 day moving average is $65.33 and its 200 day moving average is $67.80.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2 billion. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. Masco's quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. Analysts predict that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, August 8th. Masco's dividend payout ratio (DPR) is currently 32.89%.

Analyst Upgrades and Downgrades

MAS has been the subject of several research analyst reports. Wells Fargo & Company upped their target price 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. Evercore ISI lowered their target price on shares of Masco from $82.00 to $71.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Truist Financial lowered their target price on shares of Masco from $92.00 to $75.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Robert W. Baird cut shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price for the company. in a report on Tuesday, July 22nd. Finally, Loop Capital upped their target price on shares of Masco from $62.00 to $73.00 and gave the company a "hold" rating in a report on Monday, August 4th. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Masco presently has a consensus rating of "Hold" and an average price target of $74.13.

About Masco

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.