Manning & Napier Advisors LLC Decreases Stock Position in Masco Corporation (NYSE:MAS)

Manning & Napier Advisors LLC decreased its stake in Masco Corporation (NYSE:MAS - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,098,626 shares of the construction company's stock after selling 15,201 shares during the period. Manning & Napier Advisors LLC owned 0.52% of Masco worth $76,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Global X Japan Co. Ltd. grew its stake in Masco by 120.2% during the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after purchasing an additional 208 shares during the period. Kestra Investment Management LLC acquired a new stake in Masco during the fourth quarter worth approximately $30,000. Lee Danner & Bass Inc. acquired a new stake in Masco during the fourth quarter worth approximately $42,000. GeoWealth Management LLC grew its stake in Masco by 89.0% during the fourth quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock worth $50,000 after purchasing an additional 322 shares during the period. Finally, SRS Capital Advisors Inc. grew its stake in Masco by 74.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 774 shares of the construction company's stock worth $56,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds own 93.91% of the company's stock.

Masco Stock Performance

Masco stock traded down $0.57 during mid-day trading on Wednesday, reaching $63.21. 1,452,412 shares of the company's stock were exchanged, compared to its average volume of 1,832,052. The business's fifty day simple moving average is $62.73 and its 200 day simple moving average is $69.64. The firm has a market capitalization of $13.33 billion, a PE ratio of 17.27, a P/E/G ratio of 2.43 and a beta of 1.19. Masco Corporation has a one year low of $56.55 and a one year high of $86.70. The company has a quick ratio of 1.09, a current ratio of 1.75 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly 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). The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.84 billion. Masco had a return on equity of 1,320.76% and a net margin of 10.30%. The business's revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. On average, sell-side analysts expect that Masco Corporation will post 4.34 earnings per share for the current year.

Masco Announces Dividend

The company also recently announced 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 1.96%. The ex-dividend date of this dividend was Friday, May 23rd. Masco's dividend payout ratio is currently 33.88%.

Wall Street Analyst Weigh In

MAS has been the topic of several recent research reports. Evercore ISI cut their price target on Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $80.00 price target (down previously from $91.00) on shares of Masco in a report on Thursday, April 24th. The Goldman Sachs Group cut their price target on Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Barclays set a $71.00 price target on Masco and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company increased their price target on Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Ten research 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 stock. Based on data from MarketBeat, Masco currently 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.