Federated Hermes Inc. Increases Stake in Masco Co. (NYSE:MAS)

Federated Hermes Inc. lifted its position in Masco Co. (NYSE:MAS) by 565.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 144,767 shares of the construction company’s stock after acquiring an additional 122,998 shares during the quarter. Federated Hermes Inc.’s holdings in Masco were worth $9,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MAS. New Covenant Trust Company N.A. purchased a new stake in Masco during the first quarter worth $25,000. Innealta Capital LLC purchased a new stake in Masco during the second quarter worth $25,000. Versant Capital Management Inc boosted its holdings in Masco by 62.4% during the first quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock worth $28,000 after buying an additional 136 shares in the last quarter. Family Firm Inc. purchased a new stake in Masco during the second quarter worth $30,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Masco by 46.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock worth $38,000 after buying an additional 179 shares in the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the sale, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on MAS shares. Robert W. Baird increased their price target on shares of Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Citigroup reduced their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Truist Financial upped their price objective on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group upped their price objective on shares of Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays upped their price objective on shares of Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Masco presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.58.

Masco Price Performance

Shares of NYSE MAS opened at $81.25 on Wednesday. The firm has a 50-day simple moving average of $75.59 and a 200-day simple moving average of $72.91. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 2.45 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 52 week low of $47.66 and a 52 week high of $82.36.

Masco (NYSE:MAS) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the business earned $1.19 earnings per share. Masco’s revenue was down 1.7% compared to the same quarter last year. On average, equities analysts predict that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s payout ratio is currently 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.