Prudential PLC Reduces Stock Position in Masco Co. (NYSE:MAS)

Prudential PLC lessened its holdings in shares of Masco Co. (NYSE:MAS) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,474 shares of the construction company’s stock after selling 7,452 shares during the period. Prudential PLC’s holdings in Masco were worth $10,832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAS. Norges Bank bought a new position in shares of Masco during the fourth quarter valued at approximately $122,144,000. Intech Investment Management LLC purchased a new stake in shares of Masco in the 4th quarter worth about $975,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Masco by 14.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock worth $42,245,000 after purchasing an additional 67,806 shares during the period. Quantbot Technologies LP bought a new position in Masco in the first quarter worth about $1,903,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Masco in the second quarter worth about $82,363,000. Institutional investors own 93.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MAS shares. Barclays increased their price objective on Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Robert W. Baird lifted their target price on shares of Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Truist Financial upped their price target on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Citigroup lowered their price objective on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Jefferies Financial Group increased their target price on Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.58.

Masco Stock Up 0.1 %

MAS stock opened at $77.33 on Tuesday. The business’s 50-day moving average is $74.15 and its two-hundred day moving average is $72.80. The company has a market cap of $16.88 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 2.42 and a beta of 1.24. Masco Co. has a fifty-two week low of $47.66 and a fifty-two week high of $81.91. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76.

Masco (NYSE:MAS) last announced its 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. Masco had a net margin of 11.59% and a return on equity of 602.39%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, analysts forecast that Masco Co. will post 4.11 earnings per share for the current year.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, August 2nd. Masco’s payout ratio is 28.43%.

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.