Boston Partners Reduces Position in Masco Corporation (NYSE:MAS)

Key Points

• Boston Partners significantly reduced its holdings in Masco Corporation by 35.9%, now owning approximately 4.98 million shares worth $346.2 million.
• Masco's most recent earnings report showed an EPS of $1.30, exceeding estimates by $0.22, with a revenue of $2.05 billion for the quarter.
• The company recently announced a quarterly $0.31 dividend with a yield of 1.7%, scheduled for payment on August 25th.

Boston Partners lowered its position in Masco Corporation (NYSE:MAS - Free Report) by 35.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,980,680 shares of the construction company's stock after selling 2,792,454 shares during the quarter. Boston Partners owned 2.36% of Masco worth $346,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MAS. Global X Japan Co. Ltd. increased its stake in shares of 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 buying an additional 208 shares during the period. Alpine Bank Wealth Management bought a new position in Masco during the 1st quarter worth approximately $29,000. Costello Asset Management INC bought a new position in Masco during the 1st quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Masco during the 1st quarter worth approximately $33,000. Finally, GeoWealth Management LLC raised its holdings in Masco by 89.0% during the 4th 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. Institutional investors and hedge funds own 93.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on MAS shares. Wells Fargo & Company raised their price target on shares of Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Robert W. Baird lowered shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price objective for the company. in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Loop Capital reiterated a "hold" rating and issued a $73.00 price objective (up previously from $62.00) on shares of Masco in a research note on Monday, August 4th. Finally, Barclays lifted their price objective on shares of Masco from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Twelve equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $74.13.

Masco Stock Performance

Shares of NYSE:MAS traded down $0.05 during midday trading on Friday, reaching $73.52. The company had a trading volume of 2,377,019 shares, compared to its average volume of 2,723,721. The company's 50 day moving average price is $66.29 and its 200 day moving average price is $67.46. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 19.63. The stock has a market cap of $15.39 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.68 and a beta of 1.16. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2 billion. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The firm's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. As a group, sell-side analysts anticipate that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 8th. Masco's 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.