Masco Corporation (NYSE:MAS) Shares Acquired by Ledyard National Bank

Ledyard National Bank lifted its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,214 shares of the construction company's stock after purchasing an additional 4,507 shares during the period. Ledyard National Bank's holdings in Masco were worth $3,770,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Masco in the fourth quarter worth about $129,306,000. GAMMA Investing LLC lifted its holdings in shares of Masco by 11,690.9% in the 1st quarter. GAMMA Investing LLC now owns 911,669 shares of the construction company's stock worth $63,397,000 after acquiring an additional 903,937 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Masco in the 4th quarter worth approximately $33,157,000. Freestone Grove Partners LP bought a new stake in shares of Masco in the 4th quarter worth approximately $30,678,000. Finally, Invesco Ltd. raised its holdings in Masco by 14.7% during the 4th quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after buying an additional 360,931 shares during the last quarter. 93.91% of the stock is owned by institutional investors.

Masco Trading Up 0.7%

Shares of NYSE MAS traded up $0.45 during mid-day trading on Friday, reaching $64.19. 2,796,058 shares of the company's stock were exchanged, compared to its average volume of 1,840,627. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 17.54, 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 Corporation has a 52-week low of $56.55 and a 52-week high of $86.70. The company's 50-day moving average is $62.83 and its 200-day moving average is $69.42.

Masco (NYSE:MAS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). Masco had a net margin of 10.30% and a return on equity of 1,320.76%. The firm had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business's revenue was down 6.5% compared to the same quarter last year. Analysts expect 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 was paid on Monday, June 9th. Shareholders of record on Friday, May 23rd were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, May 23rd. Masco's dividend payout ratio is currently 33.88%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group reaffirmed a "buy" rating and issued a $80.00 target price (down from $91.00) on shares of Masco in a research report on Thursday, April 24th. 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 research note on Wednesday, May 14th. Wall Street Zen upgraded shares of Masco from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. The Goldman Sachs Group lowered their price objective on shares of Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Truist Financial reduced 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. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.