Paralel Advisors LLC Has $1.93 Million Stock Holdings in Masco Co. (NYSE:MAS)

Paralel Advisors LLC reduced its stake in Masco Co. (NYSE:MAS - Free Report) by 24.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,930 shares of the construction company's stock after selling 9,534 shares during the period. Paralel Advisors LLC's holdings in Masco were worth $1,929,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ballentine Partners LLC grew its holdings in Masco by 4.3% during the 2nd quarter. Ballentine Partners LLC now owns 5,748 shares of the construction company's stock valued at $383,000 after purchasing an additional 235 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Masco during the second quarter valued at about $1,179,000. Acadian Asset Management LLC increased its position in shares of Masco by 66.5% during the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company's stock worth $121,581,000 after acquiring an additional 728,690 shares during the last quarter. Oxbow Advisors LLC lifted its stake in shares of Masco by 955.7% in the second quarter. Oxbow Advisors LLC now owns 40,233 shares of the construction company's stock worth $2,682,000 after acquiring an additional 36,422 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in Masco by 8.3% in the second quarter. Illinois Municipal Retirement Fund now owns 151,467 shares of the construction company's stock valued at $10,098,000 after purchasing an additional 11,612 shares during the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Stock Performance

NYSE:MAS traded down $0.02 during mid-day trading on Friday, hitting $77.22. The stock had a trading volume of 1,446,726 shares, compared to its average volume of 1,899,495. 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 company has a 50 day simple moving average of $73.90 and a 200-day simple moving average of $72.78. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.50 and a beta of 1.24. Masco Co. has a 52 week low of $47.66 and a 52 week high of $81.91.

Masco (NYSE:MAS - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.02. Masco had a return on equity of 602.39% and a net margin of 11.59%. The company had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.10 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts expect that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Friday, August 2nd. Masco's dividend payout ratio (DPR) is presently 28.43%.

Analyst Ratings Changes

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

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.