Masco Corporation (NYSE:MAS) Position Lifted by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in Masco Corporation by 47.4% in the first quarter, owning about 1.97% of the company valued at $289.25 million.
• Masco Corporation reported earnings of $1.30 per share for the last quarter, exceeding analysts' expectations, with a revenue of $2.05 billion.
• The company announced a quarterly dividend of $0.31 per share, equating to an annual yield of 1.7%, with a payout ratio of 32.89%.

Invesco Ltd. lifted its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 47.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,159,518 shares of the construction company's stock after buying an additional 1,337,889 shares during the period. Invesco Ltd. owned 1.97% of Masco worth $289,253,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its holdings in 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 during the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of Masco in the first quarter valued at $29,000. Costello Asset Management INC acquired a new position in Masco in the first quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Masco during the first quarter worth about $33,000. Finally, GeoWealth Management LLC boosted its stake in Masco by 89.0% in the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock worth $50,000 after buying an additional 322 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Oppenheimer set a $79.00 price objective on shares of Masco and gave the company an "outperform" rating in a research note on Monday, August 4th. Royal Bank Of Canada upped their price target on shares of Masco from $62.00 to $71.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Barclays upped their price target on shares of Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Truist Financial dropped their price target on shares of Masco from $92.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Masco in a research report on Wednesday, May 28th. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Masco presently has an average rating of "Hold" and a consensus price target of $74.13.

Masco Trading Down 0.1%

MAS traded down $0.05 during trading on Friday, hitting $73.52. 2,377,019 shares of the company's stock were exchanged, compared to its average volume of 2,723,721. 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 Corporation has a 1 year low of $56.55 and a 1 year high of $86.70. The stock has a 50 day moving average price of $66.29 and a 200 day moving average price of $67.46. The firm has a market cap of $15.39 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16.

Masco (NYSE:MAS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. As a group, analysts expect that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be paid a $0.31 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. Masco's dividend payout ratio is 32.89%.

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.