NBW Capital LLC Cuts Stake in Masco Corporation (NYSE:MAS)

Key Points

• NBW Capital LLC reduced its stake in Masco Corporation by 23.2%, selling 20,460 shares to own 67,701 shares worth approximately $4.7 million.
• Masco recently announced a quarterly dividend of $0.31 per share, resulting in an annualized dividend of $1.24 and a yield of 1.8%.
• Wall Street analysts have varying views on Masco, with a consensus rating of Hold and a target price of $74.13, reflecting recent price adjustments by firms like Jefferies and Wells Fargo.

NBW Capital LLC decreased its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 23.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,701 shares of the construction company's stock after selling 20,460 shares during the period. NBW Capital LLC's holdings in Masco were worth $4,708,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MAS. Wells Fargo & Company MN raised its position in Masco by 1.1% during the fourth quarter. Wells Fargo & Company MN now owns 345,374 shares of the construction company's stock valued at $25,064,000 after purchasing an additional 3,591 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Masco during the fourth quarter valued at about $255,000. Federated Hermes Inc. raised its position in Masco by 6.1% during the fourth quarter. Federated Hermes Inc. now owns 153,080 shares of the construction company's stock valued at $11,109,000 after purchasing an additional 8,810 shares in the last quarter. Bank of Montreal Can raised its position in Masco by 0.3% during the fourth quarter. Bank of Montreal Can now owns 335,305 shares of the construction company's stock valued at $24,333,000 after purchasing an additional 879 shares in the last quarter. Finally, Invesco Ltd. raised its position in Masco by 14.7% during the fourth quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after purchasing an additional 360,931 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MAS. Royal Bank Of Canada lifted their price objective on Masco from $62.00 to $71.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Oppenheimer set a $79.00 price objective on Masco and gave the stock an "outperform" rating in a report on Monday, August 4th. Robert W. Baird downgraded Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price objective on the stock. in a report on Tuesday, July 22nd. Wall Street Zen upgraded Masco from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, The Goldman Sachs Group decreased their price objective on Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Twelve research 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. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $74.13.

Masco Stock Down 0.1%

Shares of MAS traded down $0.04 during mid-day trading on Friday, reaching $69.31. The company had a trading volume of 1,435,676 shares, compared to its average volume of 2,568,429. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.14 and a current ratio of 1.82. The firm has a 50-day moving average price of $65.33 and a 200 day moving average price of $67.72. Masco Corporation has a 52 week low of $56.55 and a 52 week high of $86.70. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.53 and a beta of 1.16.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2 billion. During the same period in the previous year, the business earned $1.20 EPS. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Masco Corporation will post 4.34 EPS for the current year.

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Masco's payout ratio is currently 32.89%.

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.