Pacer Advisors Inc. Boosts Stake in Masco Corporation (NYSE:MAS)

Pacer Advisors Inc. boosted its stake in Masco Corporation (NYSE:MAS) by 3,597.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 959,490 shares of the construction company’s stock after buying an additional 933,537 shares during the quarter. Pacer Advisors Inc.’s holdings in Masco were worth $66,723,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Global X Japan Co. Ltd. lifted its stake in shares of Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company’s stock worth $26,000 after purchasing an additional 208 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of Masco during the 1st quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Masco during the 1st quarter worth $33,000. GeoWealth Management LLC lifted its stake in shares of Masco by 89.0% during the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company’s stock worth $50,000 after purchasing an additional 322 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Masco during the 1st quarter worth $56,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Price Performance

Shares of Masco stock opened at $67.75 on Friday. The business has a 50-day moving average of $64.30 and a 200-day moving average of $68.29. The company has a market capitalization of $14.29 billion, a PE ratio of 18.51, a P/E/G ratio of 2.75 and a beta of 1.19. Masco Corporation has a 1-year low of $56.55 and a 1-year high of $86.70.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $1.80 billion for 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 firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. On average, equities analysts expect that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.31 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.24 annualized dividend and a dividend yield of 1.83%. Masco’s dividend payout ratio is presently 33.88%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays increased their price target on Masco from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Wells Fargo & Company upped their price objective on Masco from $65.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Wall Street Zen upgraded Masco from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Evercore ISI dropped their price objective on Masco from $82.00 to $71.00 and set an “in-line” rating for the company in a report on Thursday, April 24th. Finally, Jefferies Financial Group dropped their price objective on Masco from $64.00 to $62.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Masco has a consensus rating of “Hold” and a consensus target price of $74.03.

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.