Mitsubishi UFJ Asset Management Co. Ltd. Acquires 66,416 Shares of Masco Corporation (NYSE:MAS)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Masco Corporation by 15.9%, acquiring 66,416 shares, bringing its total ownership to 485,280 shares valued at approximately $33.7 million.
• Institutional investors hold 93.91% of Masco's stock, indicating strong confidence in the company's performance among large investment firms.
• Masco reported earnings of $1.30 per share for the last quarter, surpassing the analysts' consensus estimate of $1.08, and also announced a quarterly dividend of $0.31 per share.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 15.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,280 shares of the construction company's stock after purchasing an additional 66,416 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of Masco worth $33,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MAS. Vanguard Group Inc. grew its stake in Masco by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company's stock valued at $1,883,985,000 after purchasing an additional 984,403 shares in the last quarter. Northern Trust Corp raised its holdings in Masco by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock valued at $283,070,000 after acquiring an additional 337,164 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Masco by 14.7% in the 4th quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock worth $204,766,000 after buying an additional 360,931 shares in the last quarter. Deutsche Bank AG grew its position in Masco by 12.4% during the 4th quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company's stock worth $200,456,000 after acquiring an additional 305,156 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Masco by 6.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,463,217 shares of the construction company's stock valued at $178,756,000 after buying an additional 142,318 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Stock Down 1.7%

Shares of NYSE MAS traded down $1.23 during trading on Thursday, hitting $73.41. 1,160,215 shares of the company traded hands, compared to its average volume of 2,161,180. The business's fifty day moving average is $65.88 and its 200 day moving average is $67.64. Masco Corporation has a fifty-two week low of $56.55 and a fifty-two week high of $86.70. The firm has a market capitalization of $15.37 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 2.60 and a beta of 1.16. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.14 and a current ratio of 1.82.

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, 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The business's quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts predict that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on MAS shares. The Goldman Sachs Group reduced their price target on Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. UBS Group reissued a "buy" rating and issued a $80.00 price target (down previously from $91.00) on shares of Masco in a research note on Thursday, April 24th. Evercore ISI dropped their price target on Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Barclays raised their price objective on Masco from $77.00 to $78.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada lifted their price target on Masco from $62.00 to $71.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Twelve analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently 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.