Arrow Financial Corp Sells 27,649 Shares of Masco Corporation (NYSE:MAS)

Arrow Financial Corp lessened its holdings in Masco Corporation (NYSE:MAS - Free Report) by 55.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,551 shares of the construction company's stock after selling 27,649 shares during the quarter. Arrow Financial Corp's holdings in Masco were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of MAS. Exchange Traded Concepts LLC lifted its stake in shares of Masco by 8.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,707 shares of the construction company's stock worth $188,000 after purchasing an additional 204 shares during the last quarter. Wedmont Private Capital grew its holdings in Masco by 4.9% in the first quarter. Wedmont Private Capital now owns 4,472 shares of the construction company's stock valued at $311,000 after purchasing an additional 208 shares during the period. Global X Japan Co. Ltd. grew its holdings in Masco by 120.2% in the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock valued at $26,000 after purchasing an additional 208 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Masco by 1.0% in the first quarter. State of Alaska Department of Revenue now owns 24,832 shares of the construction company's stock worth $1,726,000 after acquiring an additional 235 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Masco by 9.1% during the first quarter. UMB Bank n.a. now owns 2,973 shares of the construction company's stock worth $207,000 after buying an additional 249 shares in the last quarter. Institutional investors own 93.91% of the company's stock.

Masco Trading Down 0.6%

Shares of MAS traded down $0.41 on Monday, reaching $65.16. The company's stock had a trading volume of 1,678,152 shares, compared to its average volume of 1,818,557. Masco Corporation has a twelve month low of $56.55 and a twelve month high of $86.70. The stock has a market capitalization of $13.74 billion, a PE ratio of 16.23, a PEG ratio of 2.50 and a beta of 1.19. The firm has a fifty day moving average of $64.38 and a 200-day moving average of $68.42.

Masco (NYSE:MAS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.84 billion. Masco had a net margin of 10.30% and a return on equity of 1,320.76%. The firm's revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 earnings per share. As a group, equities analysts anticipate that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 23rd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, May 23rd. Masco's dividend payout ratio (DPR) is currently 33.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Masco from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group cut their target price on Masco from $64.00 to $62.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Loop Capital set a $62.00 price objective on Masco and gave the stock a "hold" rating in a report on Thursday, April 24th. Truist Financial reduced their price objective on Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Masco currently has a consensus rating of "Hold" and a consensus target price of $74.03.

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.