J. Safra Sarasin Holding AG Cuts Stock Holdings in Masco Corporation (NYSE:MAS)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Masco Corporation (NYSE:MAS) by 25.4%, ending the first quarter with 79,438 shares worth approximately $5.52 million.
• Masco reported quarterly earnings of $1.30 EPS, which exceeded expectations by $0.22, though revenue decreased by 1.9% compared to the previous year.
• The company recently announced a quarterly dividend of $0.31, yielding 1.8%, with the ex-dividend date set for August 8th.

J. Safra Sarasin Holding AG decreased its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 25.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,438 shares of the construction company's stock after selling 27,022 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Masco were worth $5,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Masco by 10.5% in 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 buying an additional 2,184 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Masco by 2.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,007 shares of the construction company's stock worth $769,000 after buying an additional 270 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Masco by 11.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 86,131 shares of the construction company's stock worth $5,990,000 after buying an additional 8,508 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Masco by 1.0% during the first quarter. State of Alaska Department of Revenue now owns 24,832 shares of the construction company's stock valued at $1,726,000 after purchasing an additional 235 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Masco by 8.2% during the first quarter. Exchange Traded Concepts LLC now owns 2,707 shares of the construction company's stock valued at $188,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 93.91% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAS. Wells Fargo & Company increased their price objective on shares of Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Robert W. Baird downgraded shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price objective on the stock. in a research report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Masco in a research report on Wednesday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of Masco from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of Masco from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Twelve 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $74.13.

Masco Price Performance

Shares of NYSE MAS traded up $0.24 during midday trading on Tuesday, reaching $69.70. The stock had a trading volume of 196,606 shares, compared to its average volume of 2,144,094. The stock has a 50-day moving average of $64.80 and a 200-day moving average of $67.90. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.14 and a current ratio of 1.82. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 2.52 and a beta of 1.16. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $86.70.

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

Masco Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. Masco's dividend payout ratio is 32.89%.

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.