Amalgamated Bank Buys 603 Shares of Masco Corporation (NYSE:MAS)

Amalgamated Bank lifted its holdings in Masco Corporation (NYSE:MAS) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,989 shares of the construction company’s stock after purchasing an additional 603 shares during the quarter. Amalgamated Bank’s holdings in Masco were worth $2,920,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Keybank National Association OH lifted its position in shares of Masco by 3.8% in the fourth quarter. Keybank National Association OH now owns 4,165 shares of the construction company’s stock worth $302,000 after purchasing an additional 151 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Masco by 8.2% in the first quarter. Exchange Traded Concepts LLC now owns 2,707 shares of the construction company’s stock worth $188,000 after purchasing an additional 204 shares in the last quarter. M&T Bank Corp lifted its position in shares of Masco by 1.7% in the fourth quarter. M&T Bank Corp now owns 12,065 shares of the construction company’s stock worth $876,000 after purchasing an additional 205 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Masco by 4.9% in the first quarter. Wedmont Private Capital now owns 4,472 shares of the construction company’s stock worth $311,000 after purchasing an additional 208 shares in the last quarter. Finally, Global X Japan Co. Ltd. lifted its position in shares of Masco by 120.2% in the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company’s stock worth $26,000 after purchasing an additional 208 shares in the last quarter. Institutional investors own 93.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group cut their price objective on shares of Masco from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Masco from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Royal Bank Of Canada lowered their target price on shares of Masco from $74.00 to $62.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group lowered their target price on shares of Masco from $64.00 to $62.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays set a $71.00 target price on shares of Masco and gave the stock an “overweight” rating in a report on Thursday, April 24th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.63.

Masco Price Performance

Shares of MAS opened at $66.43 on Friday. The firm has a market capitalization of $14.01 billion, a PE ratio of 18.15, a PEG ratio of 2.53 and a beta of 1.19. The company’s 50-day moving average is $63.44 and its 200-day moving average is $69.01. Masco Corporation has a fifty-two week low of $56.55 and a fifty-two week high of $86.70.

Masco (NYSE:MAS) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.84 billion. Masco had a net margin of 10.30% and a return on equity of 1,320.76%. Masco’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. Analysts predict that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 23rd were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, May 23rd. Masco’s payout ratio is presently 33.88%.

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.