PGGM Investments Acquires 40,242 Shares of Masco Co. (NYSE:MAS)

PGGM Investments grew its holdings in shares of Masco Co. (NYSE:MAS - Free Report) by 27.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187,577 shares of the construction company's stock after purchasing an additional 40,242 shares during the quarter. PGGM Investments owned approximately 0.09% of Masco worth $12,506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. New Covenant Trust Company N.A. bought a new position in shares of Masco during the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in Masco by 62.4% in the first quarter. Versant Capital Management Inc now owns 354 shares of the construction company's stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Venturi Wealth Management LLC increased its position in Masco by 70.1% in the first quarter. Venturi Wealth Management LLC now owns 432 shares of the construction company's stock worth $34,000 after buying an additional 178 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Masco by 4,545.5% during the 1st quarter. Larson Financial Group LLC now owns 511 shares of the construction company's stock worth $40,000 after acquiring an additional 500 shares during the period. Finally, Riverview Trust Co purchased a new stake in Masco in the 1st quarter worth about $43,000. 93.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on MAS. Jefferies Financial Group upped their price objective on shares of Masco from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Robert W. Baird raised their price target on Masco from $84.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Evercore ISI reduced their price objective on shares of Masco from $75.00 to $74.00 and set an "in-line" rating for the company in a research note on Thursday, April 25th. BMO Capital Markets upped their target price on Masco from $75.00 to $78.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 31st. Finally, Truist Financial raised their price objective on shares of Masco from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Masco currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.58.

Masco Trading Up 1.7 %

MAS stock traded up $1.27 during midday trading on Wednesday, hitting $75.49. The company had a trading volume of 1,764,170 shares, compared to its average volume of 1,964,067. The stock has a market cap of $16.63 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.39 and a beta of 1.24. 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 stock's 50 day moving average price is $70.37 and its 200 day moving average price is $71.93.

Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm's revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 EPS. As a group, equities research analysts expect that Masco Co. will post 4.1 earnings per share for the current fiscal year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 2nd will be paid a $0.29 dividend. The ex-dividend date is Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.54%. Masco's payout ratio is presently 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.

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