Federated Hermes Inc. Increases Position in Masco Corporation (NYSE:MAS)

Key Points

• Federated Hermes Inc. increased its stake in Masco Corporation by 28.4% in the 1st quarter, acquiring 43,532 additional shares to own approximately $13.67 million worth of the company.
• Masco's quarterly earnings report showed an EPS of $1.30, exceeding analyst expectations, with revenue totaling $2.05 billion despite a 1.9% decline year-over-year.
• The company announced a $0.31 quarterly dividend, reflecting a 1.8% yield and a dividend payout ratio of 33.88%.

Federated Hermes Inc. boosted its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 28.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 196,612 shares of the construction company's stock after purchasing an additional 43,532 shares during the period. Federated Hermes Inc. owned approximately 0.09% of Masco worth $13,672,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Global X Japan Co. Ltd. increased 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 worth $26,000 after buying an additional 208 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of Masco in the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Masco in the first quarter worth $33,000. GeoWealth Management LLC raised its holdings in shares of 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 last quarter. Finally, Wayfinding Financial LLC acquired a new position in Masco during the first quarter valued at $56,000. Institutional investors and hedge funds own 93.91% of the company's stock.

Masco Price Performance

Shares of NYSE MAS traded up $0.86 during trading on Friday, hitting $68.99. The company had a trading volume of 4,104,872 shares, compared to its average volume of 2,357,834. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.52 and a beta of 1.16. The stock has a fifty day simple moving average of $64.65 and a two-hundred day simple moving average of $67.96. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63. Masco Corporation has a fifty-two week low of $56.55 and a fifty-two week high of $86.70.

Masco (NYSE:MAS - Get Free Report) last posted 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. Masco had a return on equity of 1,519.31% and a net margin of 10.51%. The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2 billion. During the same period in the previous year, the firm posted $1.20 EPS. Masco's revenue was down 1.9% compared to the same quarter last year. On average, research analysts expect that Masco Corporation will post 4.34 earnings per share for the current year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 8th. Masco's dividend payout ratio is currently 32.89%.

Analyst Ratings Changes

MAS has been the topic of several analyst reports. Jefferies Financial Group cut their price target on Masco from $64.00 to $62.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird lowered Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price on the stock. in a report on Tuesday, July 22nd. Barclays lifted their price target on Masco from $77.00 to $78.00 and gave the company an "overweight" rating in a research report on Friday. Evercore ISI dropped their price objective on shares of Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company lifted 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. Twelve investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $74.70.

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.