Wealthquest Corp Invests $111.72 Million in Masco Corporation (NYSE:MAS)

Wealthquest Corp acquired a new position in shares of Masco Corporation (NYSE:MAS - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,477,255 shares of the construction company's stock, valued at approximately $111,722,000. Masco accounts for approximately 10.8% of Wealthquest Corp's investment portfolio, making the stock its 3rd biggest position. Wealthquest Corp owned 0.70% of Masco as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Masco by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,129,771 shares of the construction company's stock valued at $371,265,000 after purchasing an additional 58,739 shares in the last quarter. Northern Trust Corp grew its holdings in Masco by 9.5% in the fourth quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock valued at $283,070,000 after purchasing an additional 337,164 shares during the period. Invesco Ltd. increased its position in shares of Masco by 14.7% in the fourth quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after buying an additional 360,931 shares in the last quarter. Deutsche Bank AG raised its stake 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 worth $200,456,000 after buying an additional 305,156 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Masco by 6.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,463,217 shares of the construction company's stock valued at $178,756,000 after buying an additional 142,318 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MAS. Robert W. Baird dropped their price target on shares of Masco from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Evercore ISI dropped their target price on shares of Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a research report on Thursday, April 24th. Truist Financial cut their target price 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. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group cut 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 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $73.63.

Masco Price Performance

Shares of Masco stock traded up $0.59 on Thursday, hitting $63.78. 2,263,576 shares of the company were exchanged, compared to its average volume of 1,834,992. Masco Corporation has a 1-year low of $56.55 and a 1-year high of $86.70. The company has a quick ratio of 1.09, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.19. The company has a 50-day moving average price of $62.73 and a 200 day moving average price of $69.64.

Masco (NYSE:MAS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company earned $0.93 earnings per share. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, sell-side analysts predict 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 $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, May 23rd. Masco's dividend payout ratio is currently 33.88%.

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.