Global X Japan Co. Ltd. Buys 208 Shares of Masco Corporation (NYSE:MAS)

Global X Japan Co. Ltd. lifted its stake in Masco Corporation (NYSE:MAS) by 120.2% during the first quarter, HoldingsChannel reports. The firm owned 381 shares of the construction company’s stock after purchasing an additional 208 shares during the period. Global X Japan Co. Ltd.’s holdings in Masco were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MAS. Norges Bank bought a new position in shares of Masco in the fourth quarter worth about $129,306,000. GAMMA Investing LLC grew its holdings in shares of Masco by 11,690.9% in the first quarter. GAMMA Investing LLC now owns 911,669 shares of the construction company’s stock worth $63,397,000 after purchasing an additional 903,937 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Masco in the fourth quarter worth about $33,157,000. Freestone Grove Partners LP bought a new position in shares of Masco in the fourth quarter worth about $30,678,000. Finally, Invesco Ltd. grew its holdings 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 worth $204,766,000 after purchasing an additional 360,931 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on MAS. Royal Bank Of Canada cut their price target on shares of Masco from $74.00 to $62.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group lowered their price objective on shares of Masco from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on shares of Masco from $65.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. Loop Capital set a $62.00 price objective on shares of Masco and gave the stock a “hold” rating in a research note on Thursday, April 24th. Finally, UBS Group reaffirmed a “buy” rating and issued a $80.00 price objective (down from $91.00) on shares of Masco in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Masco has a consensus rating of “Hold” and an average price target of $73.63.

Masco Stock Performance

MAS stock opened at $60.84 on Friday. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 2.32 and a beta of 1.19. The firm has a 50-day simple moving average of $62.65 and a two-hundred day simple moving average of $70.14. Masco Corporation has a one year low of $56.55 and a one year high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.09 and a current ratio of 1.75.

Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Masco had a net margin of 10.30% and a return on equity of 1,320.76%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. On average, equities analysts forecast that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 23rd were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, May 23rd. Masco’s payout ratio is currently 33.88%.

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.