1,477,255 Shares in Masco Corporation (NYSE:MAS) Purchased by Wealthquest Corp

Wealthquest Corp purchased a new position in shares of Masco Corporation (NYSE:MAS) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,477,255 shares of the construction company’s stock, valued at approximately $111,722,000. Masco makes up approximately 5.0% of Wealthquest Corp’s holdings, making the stock its 5th largest position. Wealthquest Corp owned 0.70% of Masco at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its position in Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company’s stock valued at $26,000 after purchasing an additional 208 shares during the period. Alpine Bank Wealth Management acquired a new position in Masco during the 1st quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Masco during the 1st quarter valued at about $33,000. GeoWealth Management LLC lifted its position in Masco by 89.0% during the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company’s stock valued at $50,000 after purchasing an additional 322 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Masco during the 1st quarter valued at about $56,000. Institutional investors and hedge funds own 93.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on MAS shares. Baird R W cut Masco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company upped their price target on Masco from $65.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. The Goldman Sachs Group lowered their price target on Masco from $82.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Barclays upped their price target on Masco from $71.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Finally, Evercore ISI lowered their price target on Masco from $82.00 to $71.00 and set an “in-line” rating for the company in a research note on Thursday, April 24th. Twelve equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Masco has an average rating of “Hold” and a consensus target price of $74.03.

Masco Stock Down 1.0%

Shares of MAS opened at $65.98 on Thursday. The stock has a market capitalization of $13.92 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.72 and a beta of 1.19. Masco Corporation has a twelve month low of $56.55 and a twelve month high of $86.70. The company has a 50 day moving average of $64.39 and a 200-day moving average of $68.18.

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 issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, May 23rd. Masco’s payout ratio is presently 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.