Masco Corporation (NYSE:MAS) Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Masco Corporation by 4.2% during the first quarter, now owning 3,882,253 shares valued at approximately $270 million.
• Masco recently reported earnings of $1.30 per share for the last quarter, exceeding the consensus estimate of $1.08, despite a 1.9% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.31 per share, with a dividend yield of 1.7%, set to be paid on August 25th to stockholders of record on August 8th.

JPMorgan Chase & Co. lifted its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,882,253 shares of the construction company's stock after purchasing an additional 155,351 shares during the period. JPMorgan Chase & Co. owned about 1.84% of Masco worth $269,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Masco by 3.8% during the first quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company's stock worth $1,883,985,000 after purchasing an additional 984,403 shares in the last quarter. Northern Trust Corp increased its stake in shares of Masco by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock worth $283,070,000 after purchasing an additional 337,164 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Masco by 12.4% during the fourth quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company's stock worth $200,456,000 after purchasing an additional 305,156 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Masco by 6.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,463,217 shares of the construction company's stock worth $178,756,000 after purchasing an additional 142,318 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Masco by 0.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,915,852 shares of the construction company's stock worth $139,033,000 after purchasing an additional 7,266 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

Masco Stock Down 0.1%

MAS stock traded down $0.05 during midday trading on Friday, hitting $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 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 52-week low of $56.55 and a 52-week high of $86.70. The firm has a market capitalization of $15.39 billion, a P/E ratio of 19.50, a PEG ratio of 2.68 and a beta of 1.16. The firm has a 50-day simple moving average of $66.29 and a 200-day simple moving average of $67.46.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2 billion. During the same quarter last year, the company posted $1.20 EPS. The firm's revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts forecast that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 8th. Masco's dividend payout ratio (DPR) is currently 32.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MAS shares. Barclays boosted their target price on shares of Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. The Goldman Sachs Group dropped their price objective on shares of Masco from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Oppenheimer set a $79.00 price objective on shares of Masco and gave the company an "outperform" rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Finally, Baird R W cut shares of Masco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Twelve investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Masco has a consensus rating of "Hold" and an average target price of $74.13.

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.