Here’s Why Masco Corporation (MAS) Outperformed in Q2
Ariel Investments, an investment management company, released its “Ariel Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, Ariel fund gained +3.11% underperforming +4.37% and +5.22% gains of both the Russell 2500 Value Index and the Russell 2500 Index, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Fund highlighted stocks like Masco Corporation (NYSE:MAS) in the second quarter 2023 investor letter. Headquartered in Livonia, Michigan, Masco Corporation (NYSE:MAS) is a home improvement and building products distributor. On September 11, 2023, Masco Corporation (NYSE:MAS) stock closed at $56.64 per share. One-month return of Masco Corporation (NYSE:MAS) was -4.02%, and its shares gained 14.59% of their value over the last 52 weeks. Masco Corporation (NYSE:MAS) has a market capitalization of $12.74 billion.
Ariel Fund made the following comment about Masco Corporation (NYSE:MAS) in its Q2 2023 investor letter:
"Branded home improvement and building products manufacturer Masco Corporation (NYSE:MAS), was another top contributor to relative results this quarter. The company continues to successfully raise prices to offset cost input inflation and is capturing operational improvements to neutralize lower sales volume. Additionally, management continues to demonstrate financial stability by utilizing its strong cash position to return capital to shareholders through the use of dividends and aggressive share repurchases. Going forward, we expect the company to enhance its operating profitability, as it continues to benefit from scale, technological know-how and the positioning of its supply chain."
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Masco Corporation (NYSE:MAS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Masco Corporation (NYSE:MAS) at the end of second quarter which was 23 in the previous quarter.
We discussed Masco Corporation (NYSE:MAS) in another article and shared the list of biggest plumbing companies in the world. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
