Manning & Napier Advisors LLC Invests $82.36 Million in Masco Co. (NYSE:MAS)

Manning & Napier Advisors LLC acquired a new position in shares of Masco Co. (NYSE:MAS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,235,383 shares of the construction company’s stock, valued at approximately $82,363,000. Manning & Napier Advisors LLC owned approximately 0.56% of Masco at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in shares of Masco in the first quarter valued at about $25,000. Versant Capital Management Inc lifted its stake in shares of Masco by 62.4% during the first quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after buying an additional 136 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Masco by 70.1% during the first quarter. Venturi Wealth Management LLC now owns 432 shares of the construction company’s stock valued at $34,000 after buying an additional 178 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Masco by 46.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after buying an additional 179 shares during the period. Finally, Union Savings Bank lifted its stake in shares of Masco by 91.7% during the fourth quarter. Union Savings Bank now owns 575 shares of the construction company’s stock valued at $39,000 after buying an additional 275 shares during the period. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Stock Performance

MAS traded down $0.42 on Friday, hitting $72.44. 1,168,273 shares of the stock traded hands, compared to its average volume of 1,969,121. Masco Co. has a 52 week low of $47.66 and a 52 week high of $79.54. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18. The firm has a market capitalization of $15.95 billion, a PE ratio of 17.91, a P/E/G ratio of 2.39 and a beta of 1.24. The business has a fifty day moving average price of $69.95 and a two-hundred day moving average price of $71.72.

Masco (NYSE:MAS) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 earnings per share. On average, research analysts predict that Masco Co. will post 4.1 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 2nd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, August 2nd. Masco’s payout ratio is currently 28.43%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets upped their target price on shares of Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Barclays increased their price objective on shares of Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. StockNews.com downgraded shares of Masco from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Truist Financial increased their price objective on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Masco has an average rating of “Moderate Buy” and an average price target of $77.58.

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.