Impax Asset Management Group plc Acquires 259,205 Shares of Masco Co. (NYSE:MAS)

Impax Asset Management Group plc lifted its holdings in shares of Masco Co. (NYSE:MAS - Free Report) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,855,056 shares of the construction company's stock after buying an additional 259,205 shares during the period. Impax Asset Management Group plc owned approximately 1.31% of Masco worth $190,347,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in shares of Masco during the first quarter valued at approximately $25,000. Versant Capital Management Inc raised its stake in Masco by 62.4% during the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company's stock valued at $28,000 after buying an additional 136 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Masco during the 2nd quarter valued at $25,000. Family Firm Inc. purchased a new position in shares of Masco in the 2nd quarter worth $30,000. Finally, Larson Financial Group LLC grew its holdings in shares of Masco by 4,545.5% in the first 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. Hedge funds and other institutional investors own 93.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MAS shares. Citigroup dropped their target price on Masco from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, July 11th. BMO Capital Markets boosted their target price on shares of Masco from $75.00 to $78.00 and gave the company a "market perform" rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Masco from $84.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Truist Financial raised their target price on Masco from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on Masco from $78.00 to $79.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.58.

Masco Price Performance

MAS stock traded down $0.02 during midday trading on Friday, hitting $77.22. The company's stock had a trading volume of 1,446,726 shares, compared to its average volume of 1,899,495. The firm has a market capitalization of $17.01 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. Masco Co. has a 12 month low of $47.66 and a 12 month high of $81.91. The company has a 50 day moving average of $73.90 and a two-hundred day moving average of $72.79.

Masco (NYSE:MAS - Get Free Report) last posted its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share 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 analysts' expectations of $2.10 billion. During the same period last year, the company posted $1.19 earnings per share. Masco's quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts expect that Masco Co. will post 4.11 EPS for the current year.

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, August 2nd. Masco's dividend payout ratio is presently 28.43%.

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.