Masco Corporation (NYSE:MAS) Shares Bought by Citigroup Inc.

Key Points

• Citigroup Inc. increased its position in Masco Corporation shares by 13.5% in Q1, now owning approximately 344,762 shares worth about $23.98 million.
• Masco recently reported $1.30 EPS for the last quarter, exceeding estimates, while its revenue was down 1.9% year-over-year.
• The company announced a $0.31 quarterly dividend with a yield of 1.7%, payable on August 25th to shareholders of record on August 8th.

Citigroup Inc. boosted its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 13.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 344,762 shares of the construction company's stock after purchasing an additional 41,027 shares during the period. Citigroup Inc. owned about 0.16% of Masco worth $23,975,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MAS. Wealthquest Corp purchased a new position in Masco during the 1st quarter valued at about $111,722,000. Vanguard Group Inc. boosted its position in Masco by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company's stock valued at $1,883,985,000 after acquiring an additional 984,403 shares in the last quarter. Pacer Advisors Inc. boosted its position in Masco by 3,597.0% during the 1st quarter. Pacer Advisors Inc. now owns 959,490 shares of the construction company's stock valued at $66,723,000 after acquiring an additional 933,537 shares in the last quarter. GAMMA Investing LLC boosted its position in Masco by 11,690.9% during the 1st quarter. GAMMA Investing LLC now owns 911,669 shares of the construction company's stock valued at $63,397,000 after acquiring an additional 903,937 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Masco during the 4th quarter valued at approximately $33,157,000. Hedge funds and other institutional investors own 93.91% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on MAS shares. Jefferies Financial Group cut their price objective 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 cut Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price target on the stock. in a research report on Tuesday, July 22nd. The Goldman Sachs Group dropped their price target on Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Evercore ISI dropped their price target on Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada boosted their price target on Masco from $62.00 to $71.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Twelve investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Masco has a consensus rating of "Hold" and an average target price of $74.13.

Masco Price Performance

MAS stock traded down $0.05 during trading on Friday, reaching $73.52. The company's stock had a trading volume of 2,377,019 shares, compared to its average volume of 2,723,721. The company's fifty day moving average is $66.29 and its 200-day moving average is $67.46. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $86.70. The company has a market capitalization 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. 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 (NYSE:MAS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.08 by $0.22. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business's revenue was down 1.9% on a year-over-year basis. On average, research analysts expect that Masco Corporation will post 4.34 earnings per share for the current fiscal 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 given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 8th. 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.