National Bank of Canada FI Boosts Stake in Masco Corporation (NYSE:MAS)

Key Points

• National Bank of Canada FI increased its stake in Masco Corporation by 57.6%, owning 162,076 shares valued at $11,271,000 after purchasing additional shares in Q1.
• Masco Corporation reported a quarterly EPS of $1.30, exceeding analysts' expectations and generating revenues of $2.05 billion, despite a 1.9% year-over-year decline.
• The company declared a quarterly dividend of $0.31, translating to an annualized yield of 1.7%, with the payout ratio currently at 32.89%.

National Bank of Canada FI raised its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 57.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,076 shares of the construction company's stock after buying an additional 59,211 shares during the period. National Bank of Canada FI owned about 0.08% of Masco worth $11,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Masco by 10.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,008 shares of the construction company's stock valued at $1,580,000 after buying an additional 2,184 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Masco by 2.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,007 shares of the construction company's stock worth $769,000 after purchasing an additional 270 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Masco by 11.0% in the first quarter. Asset Management One Co. Ltd. now owns 86,131 shares of the construction company's stock worth $5,990,000 after purchasing an additional 8,508 shares in the last quarter. State of Alaska Department of Revenue increased 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 purchasing an additional 235 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of Masco by 7.2% in the first quarter. LPL Financial LLC now owns 187,893 shares of the construction company's stock worth $13,066,000 after purchasing an additional 12,686 shares in the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Price Performance

Shares of NYSE MAS traded down $0.05 during mid-day trading on Friday, hitting $73.52. 2,377,019 shares of the company's stock traded hands, compared to its average volume of 2,723,721. The company's 50-day moving average is $66.29 and its two-hundred day moving average is $67.46. The company has a debt-to-equity ratio of 19.63, a current ratio of 1.82 and a quick ratio of 1.14. The company has a market capitalization of $15.39 billion, a P/E ratio of 19.50, a PEG ratio of 2.68 and a beta of 1.16. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $86.70.

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 10.51% and a return on equity of 1,519.31%. 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. On average, equities analysts anticipate that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 8th. Masco's dividend payout ratio is 32.89%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Loop Capital reissued a "hold" rating and issued a $73.00 price objective (up from $62.00) on shares of Masco in a research note on Monday, August 4th. Oppenheimer set a $79.00 price objective on shares of Masco and gave the stock an "outperform" rating in a research note on Monday, August 4th. Barclays increased their price objective on shares of Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Evercore ISI reduced their price objective on shares of Masco from $82.00 to $71.00 and set an "in-line" rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their price objective on shares of Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Twelve 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. Based on data from MarketBeat, Masco has an average rating of "Hold" and a consensus 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.