Nuveen LLC Takes $126.06 Million Position in Masco Corporation (NYSE:MAS)

Key Points

• Nuveen LLC has acquired a new stake in Masco Corporation, purchasing approximately 1.8 million shares valued at around $126 million, representing 0.86% of the company.
• Multiple institutional investors have recently increased their stakes in Masco, with a majority of the stock—over 93%—now owned by institutional investors.
• Masco announced a quarterly dividend of $0.31 per share, indicative of a 1.8% yield, with a payout ratio of 32.89%.

Nuveen LLC acquired a new position in Masco Corporation (NYSE:MAS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,812,722 shares of the construction company's stock, valued at approximately $126,057,000. Nuveen LLC owned 0.86% of Masco as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Global X Japan Co. Ltd. raised its position in shares of Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after purchasing an additional 208 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Masco during the 1st quarter worth about $29,000. Costello Asset Management INC acquired a new position in shares of Masco during the 1st quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Masco during the 1st quarter worth about $33,000. Finally, GeoWealth Management LLC raised its position in shares of 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.

Masco Trading Down 0.1%

Shares of NYSE:MAS traded down $0.11 during mid-day trading on Friday, reaching $73.46. 1,693,467 shares of the company were exchanged, compared to its average volume of 2,163,007. 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 firm has a market cap of $15.38 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.72 and a beta of 1.16. The firm's 50-day simple moving average is $66.09 and its 200 day simple moving average is $67.59. 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 posted its quarterly earnings data 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 firm had revenue of $2.05 billion during 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 firm's quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. Equities research analysts forecast that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The business 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 dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. Masco's dividend payout ratio (DPR) is presently 32.89%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MAS. Wall Street Zen upgraded shares of Masco from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays upped 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. JPMorgan Chase & Co. upped their price objective on shares of Masco from $65.00 to $74.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Loop Capital reaffirmed a "hold" rating and set a $73.00 price objective (up previously from $62.00) on shares of Masco in a research note on Monday, August 4th. Finally, Jefferies Financial Group dropped their price objective on shares of Masco from $64.00 to $62.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Twelve equities research 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $74.13.

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.