Todd Asset Management LLC Raises Position in Masco Corporation (NYSE:MAS)

Key Points

• Todd Asset Management LLC increased its stake in Masco Corporation by 10.0%, holding approximately $58.29 million worth of shares, making it the 13th largest position in their portfolio.
• Masco's stock received various ratings from analysts, with a consensus rating of "Hold" and a price target averaging at $74.13, reflecting mixed opinions on future performance.
• The company reported earnings of $1.30 per share for the last quarter, exceeding expectations, with a revenue of $2.05 billion despite a 1.9% decline year-over-year.

Todd Asset Management LLC raised its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 10.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 838,199 shares of the construction company's stock after purchasing an additional 76,292 shares during the period. Masco accounts for about 1.4% of Todd Asset Management LLC's portfolio, making the stock its 13th largest position. Todd Asset Management LLC owned 0.40% of Masco worth $58,288,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MAS. Vanguard Group Inc. grew its position in shares of Masco by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company's stock worth $1,883,985,000 after buying an additional 984,403 shares during the last quarter. Invesco Ltd. grew its position in shares of Masco by 47.4% in the 1st quarter. Invesco Ltd. now owns 4,159,518 shares of the construction company's stock worth $289,253,000 after buying an additional 1,337,889 shares during the last quarter. Northern Trust Corp grew its position in shares of Masco by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock worth $283,070,000 after buying an additional 337,164 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Masco by 4.2% during the 1st quarter. JPMorgan Chase & Co. now owns 3,882,253 shares of the construction company's stock valued at $269,972,000 after purchasing an additional 155,351 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Masco by 12.4% during the 4th quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company's stock valued at $200,456,000 after purchasing an additional 305,156 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

Wall Street Analysts Forecast Growth

MAS has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. UBS Group restated a "buy" rating and issued a $80.00 price objective (down from $91.00) on shares of Masco in a research note on Thursday, April 24th. The Goldman Sachs Group reduced 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Finally, Evercore ISI reduced their price objective on Masco from $82.00 to $71.00 and set an "in-line" rating for the company in a research note on Thursday, April 24th. Twelve research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Masco has a consensus rating of "Hold" and an average target price of $74.13.

Masco Price Performance

Shares of Masco stock traded down $1.02 on Thursday, hitting $73.62. The company's stock had a trading volume of 2,144,374 shares, compared to its average volume of 2,167,935. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.14 and a current ratio of 1.82. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $86.70. The firm has a fifty day moving average price of $65.88 and a 200-day moving average price of $67.64. The company has a market capitalization of $15.41 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.60 and a beta of 1.16.

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

Masco Dividend Announcement

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

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.