9 Best Home Improvement Stocks To Buy Now

4. Masco Corporation (NYSE:MAS)

Number of Hedge Fund Shareholders In Q1 2024: 39

Masco Corporation (NYSE:MAS) is a Michigan based company that sells products such as plumbing equipment, pipes, and toilets. It became another home improvement products stock that felt the economic heat during the first quarter as Masco Corporation (NYSE:MAS)’s earnings report saw the firm post $1.93 billion and $0.93 in revenue and adjusted EPS. This saw revenue miss analyst estimates of $1.94 billion, with the EPS beating $0.88 in estimates. Its shares dipped 4% in the aftermath. The mixed set of results didn’t impress Loop Capital as it reduced Masco Corporation (NYSE:MAS)’s share price target to $76 from $79 and kept a Hold rating on the shares. Still, Loop Capital was surprised by the 4% post earnings share price drop, and it attributed the share price reduction to the broader high interest rate environment.

After digging through 919 hedge funds’ Q1 2024 filings, Insider Monkey found 39 Masco Corporation (NYSE:MAS) stakeholders. Natixis Global Asset Management’s Harris Associates held the largest stake which was worth $607 million.

Masco Corporation (NYSE:MAS)’s price to forward earnings ratio is 17.12, which makes the stock undervalued compared to the market’s P/E of 21. The share price growth of 45% over the past four years is more than 4x the revenue growth of 11%, creating a mixed picture for the stock.