Allspring Global Investments Holdings LLC Has $4.74 Million Stock Position in Masco Co. (NYSE:MAS)

Allspring Global Investments Holdings LLC increased its holdings in shares of Masco Co. (NYSE:MAS) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,675 shares of the construction company’s stock after purchasing an additional 4,634 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Masco were worth $4,744,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Optiver Holding B.V. acquired a new stake in Masco in the first quarter valued at approximately $39,000. Lindbrook Capital LLC grew its stake in Masco by 105.2% in the first quarter. Lindbrook Capital LLC now owns 913 shares of the construction company’s stock valued at $45,000 after acquiring an additional 468 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Masco by 180.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,016 shares of the construction company’s stock valued at $51,000 after acquiring an additional 654 shares during the period. Allworth Financial LP grew its stake in Masco by 42.7% in the second quarter. Allworth Financial LP now owns 1,219 shares of the construction company’s stock valued at $70,000 after acquiring an additional 365 shares during the period. Finally, Spire Wealth Management grew its stake in Masco by 56.5% in the first quarter. Spire Wealth Management now owns 1,277 shares of the construction company’s stock valued at $63,000 after acquiring an additional 461 shares during the period. Institutional investors and hedge funds own 91.67% of the company’s stock.

Analyst Upgrades and Downgrades

MAS has been the subject of a number of research reports. Barclays reduced their price objective on Masco from $74.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, October 12th. Truist Financial cut their target price on Masco from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. StockNews.com raised Masco from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets lifted their target price on Masco from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, October 30th. Finally, Royal Bank of Canada lifted their target price on Masco from $59.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Masco has a consensus rating of “Moderate Buy” and an average price target of $61.36.

Masco Stock Performance

Shares of MAS opened at $55.09 on Friday. The firm has a market cap of $12.37 billion, a PE ratio of 15.01, a PEG ratio of 3.20 and a beta of 1.20. The stock’s fifty day moving average price is $53.82 and its two-hundred day moving average price is $54.91. The company has a debt-to-equity ratio of 19.91, a current ratio of 1.78 and a quick ratio of 1.15. Masco Co. has a 1 year low of $42.78 and a 1 year high of $63.85.

Masco (NYSE:MAS) last issued its earnings results on Thursday, October 26th. The construction company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.09. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Masco had a negative return on equity of 1,363.56% and a net margin of 10.39%. The business’s revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, equities research analysts forecast that Masco Co. will post 3.73 EPS for the current year.

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Friday, November 10th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.14 annualized dividend and a dividend yield of 2.07%. Masco’s payout ratio is presently 31.06%.

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.