Virtu Financial LLC Purchases 8,595 Shares of Masco Corporation (NYSE:MAS)

Key Points

• Virtu Financial LLC significantly increased its stake in Masco Corporation by 233.4% during the first quarter of 2023, owning a total of 12,278 shares valued at approximately $854,000 as of its latest SEC filing.
• Wall Street analysts have mixed opinions on Masco, with recent ratings showing 12 hold ratings, 5 buy ratings, and a consensus price target of $74.13.
• Masco Corporation reported its latest quarterly earnings, beating expectations with an EPS of $1.30 against a consensus estimate of $1.08, despite showing a 1.9% year-over-year revenue decline.

Virtu Financial LLC boosted its position in Masco Corporation (NYSE:MAS - Free Report) by 233.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,278 shares of the construction company's stock after acquiring an additional 8,595 shares during the period. Virtu Financial LLC's holdings in Masco were worth $854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MAS. Global X Japan Co. Ltd. grew its holdings in shares of Masco by 120.2% during the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after purchasing an additional 208 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in Masco in the first quarter worth approximately $29,000. Costello Asset Management INC purchased a new stake in Masco in the first quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Masco in the first quarter worth approximately $33,000. Finally, GeoWealth Management LLC boosted its stake in 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 buying an additional 322 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors.

Masco Stock Down 0.1%

Shares of NYSE MAS traded down $0.05 during trading on Friday, reaching $73.52. The company had a trading volume of 2,377,019 shares, compared to its average volume of 2,723,721. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $86.70. The stock has a market cap of $15.39 billion, a PE ratio of 19.50, a P/E/G ratio of 2.68 and a beta of 1.16. The business's 50-day moving average is $66.29 and its 200 day moving average is $67.54. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63.

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

Masco Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Loop Capital reaffirmed a "hold" rating and issued a $73.00 target price (up previously from $62.00) on shares of Masco in a research note on Monday, August 4th. UBS Group reaffirmed a "buy" rating and issued a $80.00 target price (down previously from $91.00) on shares of Masco in a research note on Thursday, April 24th. Oppenheimer set a $79.00 price objective on Masco and gave the company an "outperform" rating in a research report on Monday, August 4th. Evercore ISI lowered their price objective on Masco from $82.00 to $71.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Masco in a research report on Wednesday, May 28th. 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $74.13.

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.