Hsbc Holdings PLC Raises Holdings in Masco Co. (NYSE:MAS)

Hsbc Holdings PLC increased its position in shares of Masco Co. (NYSE:MAS) by 11.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 465,033 shares of the construction company’s stock after purchasing an additional 48,379 shares during the period. Hsbc Holdings PLC’s holdings in Masco were worth $30,932,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Masco by 37.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,032 shares of the construction company’s stock valued at $1,074,000 after acquiring an additional 4,386 shares in the last quarter. UBS Group AG boosted its position in shares of Masco by 39.2% in the 4th quarter. UBS Group AG now owns 212,717 shares of the construction company’s stock worth $14,248,000 after purchasing an additional 59,946 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in Masco during the 4th quarter worth $230,000. Wells Fargo & Company MN increased its position in Masco by 4.6% during the 4th quarter. Wells Fargo & Company MN now owns 299,528 shares of the construction company’s stock valued at $20,062,000 after buying an additional 13,147 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in Masco by 3.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,827 shares of the construction company’s stock valued at $658,000 after buying an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Masco Stock Performance

NYSE MAS opened at $82.11 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18. Masco Co. has a twelve month low of $47.66 and a twelve month high of $83.56. The stock has a 50-day moving average of $76.72 and a 200 day moving average of $73.08. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.45 and a beta of 1.24.

Masco (NYSE:MAS) last posted 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 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 period in the previous year, the firm posted $1.19 EPS. Masco’s revenue was down 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.41%. Masco’s dividend payout ratio is presently 28.43%.

Wall Street Analysts Forecast Growth

MAS has been the subject of several research reports. Barclays lifted their price objective on shares of Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Citigroup decreased their target price 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. Jefferies Financial Group increased their price target on Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Truist Financial boosted their price objective on Masco from $81.00 to $84.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.58.

Masco 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.