Meeder Asset Management Inc. Trims Stake in Masco Corporation (NYSE:MAS)

Key Points

• Meeder Asset Management Inc. reduced its stake in Masco Corporation by **29.4%**, selling **69,783 shares**, and now holds **167,617 shares**, representing 0.8% of its portfolio.
• Several hedge funds have increased their investments in Masco, with significant growth from **Meeder Advisory Services Inc.** at **29.8%** and **Evermay Wealth Management LLC** at **25.1%**.
• Masco announced a quarterly dividend of **$0.31 per share** and currently has a **1.84% dividend yield**, with a payout ratio of **33.88%**.

Meeder Asset Management Inc. cut its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 29.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,617 shares of the construction company's stock after selling 69,783 shares during the period. Masco comprises approximately 0.8% of Meeder Asset Management Inc.'s holdings, making the stock its 24th largest position. Meeder Asset Management Inc. owned approximately 0.08% of Masco worth $11,656,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Masco by 10.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,008 shares of the construction company's stock valued at $1,580,000 after acquiring an additional 2,184 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Masco by 2.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,007 shares of the construction company's stock valued at $769,000 after acquiring an additional 270 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Masco by 11.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 86,131 shares of the construction company's stock valued at $5,990,000 after acquiring an additional 8,508 shares during the period. State of Alaska Department of Revenue grew its position in shares of Masco by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 24,832 shares of the construction company's stock valued at $1,726,000 after acquiring an additional 235 shares during the period. Finally, Exchange Traded Concepts LLC grew its position 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 valued at $188,000 after acquiring an additional 204 shares during the period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Stock Up 1.0%

MAS stock traded up $0.71 during mid-day trading on Friday, hitting $68.84. The company had a trading volume of 1,866,689 shares, compared to its average volume of 2,134,831. The company has a market capitalization of $14.52 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 2.68 and a beta of 1.19. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $86.70. The company has a 50-day moving average price of $64.50 and a 200 day moving average price of $68.14.

Masco (NYSE:MAS - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.22. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2 billion. Masco had a net margin of 10.30% and a return on equity of 1,320.76%. The business's revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. As a group, analysts expect that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Masco's dividend payout ratio is 33.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MAS shares. Baird R W downgraded shares of Masco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group cut their price objective on shares of Masco from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Robert W. Baird downgraded shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price for the company. in a report on Tuesday, July 22nd. Truist Financial dropped their target price on shares of Masco from $92.00 to $75.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Masco from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Masco presently has a consensus rating of "Hold" and an average target price of $74.70.

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.