Hsbc Holdings PLC Reduces Stock Position in Masco Corporation $MAS

Hsbc Holdings PLC cut its holdings in Masco Corporation (NYSE:MAS) by 32.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 344,908 shares of the construction company’s stock after selling 164,761 shares during the period. Hsbc Holdings PLC’s holdings in Masco were worth $20,782,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MAS. Focus Partners Wealth increased its stake in Masco by 2.6% during the first quarter. Focus Partners Wealth now owns 10,414 shares of the construction company’s stock worth $724,000 after acquiring an additional 265 shares during the last quarter. CW Advisors LLC bought a new stake in shares of Masco in the 2nd quarter valued at approximately $238,000. Bank of Nova Scotia lifted its stake in shares of Masco by 14.8% in the 2nd quarter. Bank of Nova Scotia now owns 25,555 shares of the construction company’s stock valued at $1,645,000 after purchasing an additional 3,294 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Masco in the 2nd quarter worth approximately $415,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Masco by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 31,832 shares of the construction company’s stock worth $2,049,000 after purchasing an additional 1,413 shares during the period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on MAS shares. Zacks Research upgraded Masco from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Wells Fargo & Company lifted their price objective on shares of Masco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Barclays boosted their price objective on shares of Masco from $78.00 to $82.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group increased their target price on shares of Masco from $79.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of Masco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.67.

Masco Trading Down 0.8%

MAS opened at $76.89 on Wednesday. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.11 and a current ratio of 1.75. The stock’s 50 day moving average price is $73.73 and its 200-day moving average price is $69.75. Masco Corporation has a one year low of $58.16 and a one year high of $83.21. The stock has a market cap of $15.51 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.91 and a beta of 1.29.

Masco (NYSE:MAS) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16. Masco had a return on equity of 815.20% and a net margin of 10.90%.The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company earned $0.87 EPS. Masco’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Masco Corporation will post 4.25 EPS for the current year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 22nd were paid a $0.32 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. Masco’s dividend payout ratio (DPR) is presently 31.76%.

Masco announced that its Board of Directors has initiated a share buyback plan on Thursday, May 7th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Masco Company Profile

Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door‐bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.

The company’s product offerings are organized into two primary segments.