Principal Financial Group Inc. Grows Holdings in Masco Co. (NYSE:MAS)

Principal Financial Group Inc. boosted its holdings in Masco Co. (NYSE:MAS) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 263,155 shares of the construction company’s stock after purchasing an additional 7,089 shares during the period. Principal Financial Group Inc.’s holdings in Masco were worth $22,089,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Masco by 6.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,031 shares of the construction company’s stock valued at $170,000 after buying an additional 128 shares during the last quarter. WCM Investment Management LLC grew its holdings in Masco by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 44,940 shares of the construction company’s stock worth $3,756,000 after acquiring an additional 132 shares in the last quarter. Metis Global Partners LLC increased its position in shares of Masco by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 7,031 shares of the construction company’s stock worth $590,000 after purchasing an additional 133 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Masco by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,917 shares of the construction company’s stock valued at $665,000 after purchasing an additional 137 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of Masco by 3.6% during the second quarter. HB Wealth Management LLC now owns 4,127 shares of the construction company’s stock worth $275,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Masco Stock Performance

MAS stock opened at $74.13 on Thursday. The company has a 50-day simple moving average of $79.56 and a 200 day simple moving average of $76.91. The company has a market capitalization of $15.99 billion, a P/E ratio of 19.72, a PEG ratio of 2.55 and a beta of 1.23. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. Masco Co. has a fifty-two week low of $63.60 and a fifty-two week high of $86.70.

Masco (NYSE:MAS) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm posted $1.00 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, November 8th. Masco’s payout ratio is currently 30.85%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MAS. BMO Capital Markets boosted their price objective on Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial lifted their price target on shares of Masco from $84.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lowered shares of Masco from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $79.00 to $80.00 in a research note on Wednesday, October 30th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $85.00 target price (down from $92.00) on shares of Masco in a report on Tuesday, December 17th. Finally, UBS Group raised their price target on Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.88.

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.