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Victory Capital Management Inc. Decreases Stake in Masco Corporation (NYSE:MAS)

Masco logo with Construction background

Victory Capital Management Inc. cut its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 611,630 shares of the construction company's stock after selling 34,696 shares during the quarter. Victory Capital Management Inc. owned approximately 0.29% of Masco worth $42,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MAS. Norges Bank bought a new position in shares of Masco during the 4th quarter worth $129,306,000. Wealthquest Corp bought a new position in shares of Masco during the 1st quarter worth $111,722,000. GAMMA Investing LLC grew its stake in shares of Masco by 11,690.9% during the 1st quarter. GAMMA Investing LLC now owns 911,669 shares of the construction company's stock worth $63,397,000 after acquiring an additional 903,937 shares during the period. Raymond James Financial Inc. bought a new position in shares of Masco during the 4th quarter worth $33,157,000. Finally, Freestone Grove Partners LP bought a new position in shares of Masco during the 4th quarter worth $30,678,000. Institutional investors own 93.91% of the company's stock.

Masco Stock Up 2.3%

Shares of NYSE MAS traded up $1.49 during trading hours on Tuesday, reaching $66.62. 1,105,898 shares of the stock traded hands, compared to its average volume of 1,815,965. The company has a market capitalization of $14.05 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 2.50 and a beta of 1.19. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70. The company's 50-day simple moving average is $64.38 and its two-hundred day simple moving average is $68.42.

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

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 23rd were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.86%. Masco's dividend payout ratio is 33.88%.

Analyst Upgrades and Downgrades

MAS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Barclays raised their target price on Masco from $71.00 to $77.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Loop Capital set a $62.00 target price on Masco and gave the stock a "hold" rating in a research note on Thursday, April 24th. Evercore ISI cut their target price 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. Finally, Wells Fargo & Company raised their target price on Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Eleven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned 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.

Check Out Our Latest Analysis on MAS

Masco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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