Masco Corporation (NYSE:MAS) Stake Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in Masco Corporation (NYSE:MAS) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,007 shares of the construction company’s stock after buying an additional 270 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Masco were worth $769,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Masco by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,129,771 shares of the construction company’s stock worth $371,265,000 after purchasing an additional 58,739 shares during the last quarter. Northern Trust Corp boosted its position 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 buying an additional 337,164 shares in the last quarter. Invesco Ltd. increased its holdings in Masco by 14.7% during the 4th quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company’s stock valued at $204,766,000 after purchasing an additional 360,931 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Masco by 12.4% in the fourth quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company’s stock valued at $200,456,000 after buying an additional 305,156 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Masco by 6.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,463,217 shares of the construction company’s stock valued at $178,756,000 after purchasing an additional 142,318 shares during the last quarter. Institutional investors own 93.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MAS shares. Royal Bank Of Canada lowered their price target on shares of Masco from $74.00 to $62.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Barclays set a $71.00 price target on shares of Masco and gave the company an “overweight” rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Masco in a research report on Wednesday, May 28th. Robert W. Baird decreased their price objective on shares of Masco from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Truist Financial reduced their price objective on shares of Masco from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.63.

Masco Stock Up 2.2%

NYSE:MAS opened at $67.00 on Thursday. The firm has a market capitalization of $14.13 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.19. The stock’s 50-day simple moving average is $63.76 and its 200 day simple moving average is $68.85. Masco Corporation has a twelve month low of $56.55 and a twelve month high of $86.70.

Masco (NYSE:MAS) last released its quarterly earnings data 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). The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. On average, analysts anticipate that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 23rd were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.24 annualized dividend and a dividend yield of 1.85%. Masco’s dividend payout ratio is currently 33.88%.

Masco Company 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.