Federated Hermes Inc. Acquires 122,998 Shares of Masco Co. (NYSE:MAS)

Federated Hermes Inc. raised its holdings in Masco Co. (NYSE:MAS) by 565.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 144,767 shares of the construction company’s stock after acquiring an additional 122,998 shares during the quarter. Federated Hermes Inc. owned approximately 0.07% of Masco worth $9,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Masco during the 4th quarter worth $122,144,000. Intech Investment Management LLC bought a new position in shares of Masco during the 4th quarter worth $975,000. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Masco by 14.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock worth $42,245,000 after buying an additional 67,806 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Masco during the 1st quarter worth $1,903,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Masco during the 2nd quarter worth $82,363,000. Institutional investors own 93.91% of the company’s stock.

Insider Transactions at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MAS. Citigroup dropped their price target on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Barclays upped their price objective on Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Truist Financial upped their price objective on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Jefferies Financial Group upped their price objective on Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, BMO Capital Markets upped their price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.58.

Masco Trading Up 0.3 %

Masco stock opened at $81.25 on Wednesday. The stock has a 50-day moving average of $75.59 and a two-hundred day moving average of $72.91. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. Masco Co. has a one year low of $47.66 and a one year high of $82.36. The stock has a market cap of $17.73 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Masco (NYSE:MAS) last announced 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 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 posted $1.19 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts anticipate that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, August 2nd. Masco’s payout ratio is 28.43%.

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.