Masco Co. (NYSE:MAS) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its stake in shares of Masco Co. (NYSE:MAS) by 55.8% during the 1st quarter, HoldingsChannel reports. The firm owned 1,538,952 shares of the construction company’s stock after purchasing an additional 551,203 shares during the quarter. Lazard Asset Management LLC’s holdings in Masco were worth $121,391,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. HB Wealth Management LLC increased its position in shares of Masco by 28.4% during the fourth quarter. HB Wealth Management LLC now owns 4,926 shares of the construction company’s stock worth $330,000 after acquiring an additional 1,089 shares during the period. Raymond James & Associates increased its holdings in Masco by 1.2% in the fourth quarter. Raymond James & Associates now owns 489,711 shares of the construction company’s stock valued at $32,801,000 after buying an additional 6,037 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Masco by 1.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 72,058 shares of the construction company’s stock valued at $4,826,000 after buying an additional 771 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Masco in the fourth quarter valued at $2,606,000. Finally, Schechter Investment Advisors LLC raised its stake in Masco by 29.2% in the fourth quarter. Schechter Investment Advisors LLC now owns 7,141 shares of the construction company’s stock valued at $478,000 after buying an additional 1,612 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Masco Stock Up 2.1 %

MAS stock traded up $1.61 during trading on Friday, reaching $77.45. The stock had a trading volume of 3,007,947 shares, compared to its average volume of 2,164,413. Masco Co. has a 1-year low of $47.66 and a 1-year high of $78.94. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 16.18. The company has a market capitalization of $17.06 billion, a P/E ratio of 18.98, a PEG ratio of 2.33 and a beta of 1.24. The firm has a fifty day moving average price of $68.78 and a 200 day moving average price of $71.28.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the business posted $1.19 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Masco Co. will post 4.08 earnings per share for the current year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 2nd will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 1.50%. Masco’s dividend payout ratio is currently 28.43%.

Analysts Set New Price Targets

A number of analysts have weighed in on MAS shares. Loop Capital cut their price target on Masco from $79.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Citigroup cut their price target on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Jefferies Financial Group raised their price target on Masco from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Truist Financial raised their price target on Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays raised their price objective on Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.57.

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.