Masco Corporation (NYSE:MAS) Shares Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has dramatically increased its stake in Masco Corporation by 3,597% in Q1, owning nearly 1 million shares worth approximately $66.7 million.
• Masco recently reported a missed earnings forecast with an EPS of $0.87 compared to the expected $0.92, while its revenue declined 6.5% year-over-year.
• Analysts have varied perspectives on Masco, with average target prices around $74.03 and a mix of ratings including "hold," "buy," and "overweight."

Pacer Advisors Inc. increased its position in Masco Corporation (NYSE:MAS - Free Report) by 3,597.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 959,490 shares of the construction company's stock after acquiring an additional 933,537 shares during the period. Pacer Advisors Inc. owned about 0.45% of Masco worth $66,723,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MAS. Global X Japan Co. Ltd. increased its position in Masco by 120.2% in the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after buying an additional 208 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in Masco during the 1st quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Masco during the first quarter valued at approximately $33,000. GeoWealth Management LLC increased its stake in shares of Masco by 89.0% in the fourth quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock worth $50,000 after purchasing an additional 322 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Masco during the 1st quarter valued at $56,000. Institutional investors own 93.91% of the company's stock.

Masco Stock Performance

Shares of MAS traded down $0.50 during trading hours on Wednesday, hitting $66.15. 716,674 shares of the stock were exchanged, compared to its average volume of 2,088,648. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $86.70. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.75 and a beta of 1.19. The stock's 50-day moving average price is $64.33 and its two-hundred day moving average price is $68.19.

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 23rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.87%. Masco's payout ratio is 33.88%.

Analyst Ratings Changes

MAS has been the subject of several research analyst reports. Robert W. Baird cut Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price for the company. in a research report on Tuesday, July 22nd. Jefferies Financial Group cut their price objective on Masco from $64.00 to $62.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Loop Capital set a $62.00 price objective on Masco and gave the stock a "hold" rating in a research note on Thursday, April 24th. Truist Financial lowered their price objective on Masco from $92.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Masco from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Twelve investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $74.03.

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.