Trust Co. of Toledo NA OH Raises Stock Holdings in Masco Co. (NYSE:MAS)

Trust Co. of Toledo NA OH raised its position in Masco Co. (NYSE:MAS) by 39.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,356 shares of the construction company’s stock after buying an additional 1,502 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Masco were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Masco during the fourth quarter worth approximately $122,144,000. Confluence Investment Management LLC purchased a new stake in shares of Masco during the first quarter worth approximately $78,181,000. Vanguard Group Inc. raised its stake in shares of Masco by 2.8% during the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after purchasing an additional 721,117 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Masco by 55.8% during the first quarter. Lazard Asset Management LLC now owns 1,538,952 shares of the construction company’s stock worth $121,391,000 after purchasing an additional 551,203 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Masco by 967.9% during the first quarter. Assenagon Asset Management S.A. now owns 415,406 shares of the construction company’s stock worth $32,767,000 after purchasing an additional 376,506 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Price Performance

Masco stock traded up $0.45 during trading hours on Tuesday, hitting $73.87. The stock had a trading volume of 2,847,369 shares, compared to its average volume of 1,979,171. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. The stock has a market capitalization of $16.12 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 2.39 and a beta of 1.24. Masco Co. has a 1-year low of $47.66 and a 1-year high of $79.54. The stock’s fifty day moving average is $69.77 and its two-hundred day moving average is $71.71.

Masco (NYSE:MAS) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. As a group, analysts predict that Masco Co. will post 4.1 earnings per share for the current fiscal year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, August 2nd. Masco’s payout ratio is currently 28.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays upped their price target on Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price objective on Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Truist Financial increased their price objective on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com cut Masco from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Citigroup cut their price objective on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Masco presently has a consensus rating of “Moderate Buy” and an average price target of $77.58.

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.