Masco Corporation (NYSE:MAS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Masco Corporation (NYSE:MAS - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,975 shares of the construction company's stock after selling 8,392 shares during the period. Principal Financial Group Inc. owned about 0.11% of Masco worth $16,618,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Masco by 9.2% during the 1st quarter. First Horizon Advisors Inc. now owns 125,790 shares of the construction company's stock worth $8,747,000 after purchasing an additional 10,595 shares in the last quarter. Horizon Financial Services LLC acquired a new stake in Masco during the 1st quarter worth approximately $106,000. WCM Investment Management LLC grew its stake in shares of Masco by 4.6% during the 1st quarter. WCM Investment Management LLC now owns 44,675 shares of the construction company's stock worth $3,068,000 after acquiring an additional 1,968 shares in the last quarter. Harbour Trust & Investment Management Co grew its stake in shares of Masco by 3.9% in the first quarter. Harbour Trust & Investment Management Co now owns 70,002 shares of the construction company's stock valued at $4,868,000 after buying an additional 2,635 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Masco by 1.5% during the first quarter. Amalgamated Bank now owns 41,989 shares of the construction company's stock worth $2,920,000 after purchasing an additional 603 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial dropped their price target on Masco from $92.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada lowered their target price on Masco from $74.00 to $62.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded Masco from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Loop Capital set a $62.00 price objective on Masco and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group dropped their price objective on Masco from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $73.63.

Masco Stock Down 2.5%

NYSE:MAS traded down $1.66 on Friday, hitting $65.84. The stock had a trading volume of 1,808,047 shares, compared to its average volume of 1,832,589. The stock has a market cap of $13.89 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.57 and a beta of 1.19. The business's 50-day simple moving average is $63.97 and its two-hundred day simple moving average is $68.74. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). Masco had a net margin of 10.30% and a return on equity of 1,320.76%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business's revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 23rd were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, May 23rd. Masco's dividend payout ratio is 33.88%.

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.