PNC Financial Services Group Inc. Acquires 4,537 Shares of Masco Corporation (NYSE:MAS)

PNC Financial Services Group Inc. raised its position in Masco Corporation (NYSE:MAS - Free Report) by 5.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,136 shares of the construction company's stock after buying an additional 4,537 shares during the period. PNC Financial Services Group Inc.'s holdings in Masco were worth $6,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors raised its stake in shares of Masco by 111.9% in the fourth quarter. World Investment Advisors now owns 5,068 shares of the construction company's stock worth $368,000 after acquiring an additional 2,676 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Masco by 1.1% in the fourth quarter. Wells Fargo & Company MN now owns 345,374 shares of the construction company's stock worth $25,064,000 after acquiring an additional 3,591 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Masco in the fourth quarter worth about $4,554,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Masco in the fourth quarter worth about $255,000. Finally, Federated Hermes Inc. raised its stake in shares of Masco by 6.1% in the fourth quarter. Federated Hermes Inc. now owns 153,080 shares of the construction company's stock worth $11,109,000 after acquiring an additional 8,810 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MAS. The Goldman Sachs Group dropped their price target on shares of Masco from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Truist Financial dropped their price target on shares of Masco from $92.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group dropped their price target 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. Wall Street Zen raised shares of Masco from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Loop Capital upped their target price on shares of Masco from $62.00 to $73.00 and gave the company a "hold" rating in a research note on Monday, August 4th. Twelve equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Masco presently has an average rating of "Hold" and a consensus target price of $74.13.

Masco Stock Down 0.1%

MAS traded down $0.04 during trading hours on Friday, hitting $69.31. 1,435,676 shares of the company's stock were exchanged, compared to its average volume of 2,568,429. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63. The stock's 50-day moving average is $65.33 and its two-hundred day moving average is $67.80. Masco Corporation has a 1-year low of $56.55 and a 1-year high of $86.70. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.53 and a beta of 1.16.

Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.22. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2 billion. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The company's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 earnings per share. Sell-side analysts predict that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Masco's dividend payout ratio is presently 32.89%.

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.