Westpac Banking Corp Grows Position in Masco Corp (NYSE:MAS)

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Westpac Banking Corp increased its position in Masco Corp (NYSE:MAS) by 90.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,238 shares of the construction company’s stock after purchasing an additional 18,178 shares during the quarter. Westpac Banking Corp’s holdings in Masco were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in shares of Masco in the 1st quarter valued at approximately $29,000. Zions Bancorporation N.A. purchased a new position in shares of Masco in the 1st quarter valued at approximately $44,000. SevenBridge Financial Group LLC lifted its stake in shares of Masco by 271.3% in the 2nd quarter. SevenBridge Financial Group LLC now owns 1,218 shares of the construction company’s stock valued at $48,000 after purchasing an additional 890 shares during the period. NuWave Investment Management LLC lifted its stake in shares of Masco by 305.1% in the 2nd quarter. NuWave Investment Management LLC now owns 1,260 shares of the construction company’s stock valued at $50,000 after purchasing an additional 949 shares during the period. Finally, Thor Advisors LLC purchased a new position in shares of Masco in the 1st quarter valued at approximately $78,000. Institutional investors own 91.14% of the company’s stock.

A number of research firms have recently commented on MAS. Royal Bank of Canada set a $45.00 target price on Masco and gave the company a “buy” rating in a research note on Friday, July 26th. Zelman & Associates upgraded Masco from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Zacks Investment Research upgraded Masco from a “sell” rating to a “hold” rating and set a $44.00 price objective for the company in a research note on Monday, July 29th. Raymond James set a $50.00 price objective on Masco and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, TheStreet cut Masco from a “b” rating to a “c+” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $45.27.

NYSE:MAS traded up $0.46 during trading hours on Friday, reaching $38.46. 1,886,200 shares of the company traded hands, compared to its average volume of 3,067,561. The business’s 50-day moving average price is $39.34 and its two-hundred day moving average price is $38.48. The stock has a market capitalization of $11.00 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.59 and a beta of 1.44. Masco Corp has a 1 year low of $27.03 and a 1 year high of $42.58. The company has a current ratio of 1.46, a quick ratio of 0.96 and a debt-to-equity ratio of 39.03.

Masco (NYSE:MAS) last posted its earnings results on Thursday, July 25th. The construction company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.34 billion. Masco had a return on equity of 792.80% and a net margin of 8.77%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. As a group, equities analysts anticipate that Masco Corp will post 2.66 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, July 12th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, July 11th. Masco’s payout ratio is 19.20%.

Masco Company Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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