Allstate Corp Has $858,000 Position in Masco Corporation $MAS

Key Points

• Allstate Corp increased its stake in Masco Corporation by 92.9% in the first quarter, acquiring an additional 5,941 shares for a total of 12,335 shares worth approximately $858,000.
• Masco reported earnings per share (EPS) of $1.30 for the last quarter, surpassing estimates of $1.08, though its revenue declined 1.9% year-over-year.
• The company declared a quarterly dividend of $0.31 per share, with an annualized yield of 1.6%, set to be paid on August 25th.

Allstate Corp boosted its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 92.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,335 shares of the construction company's stock after acquiring an additional 5,941 shares during the quarter. Allstate Corp's holdings in Masco were worth $858,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MAS. Global X Japan Co. Ltd. raised its stake in Masco by 120.2% during the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after acquiring an additional 208 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Masco during the first quarter worth $29,000. Costello Asset Management INC acquired a new stake in shares of Masco in the first quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Masco in the first quarter valued at $33,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Masco in the first quarter valued at $50,000. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Masco Trading Down 1.2%

Masco stock traded down $0.93 during mid-day trading on Thursday, hitting $73.61. The stock had a trading volume of 1,498,172 shares, compared to its average volume of 2,160,337. The stock has a 50-day simple moving average of $68.07 and a two-hundred day simple moving average of $67.30. The stock has a market capitalization of $15.41 billion, a PE ratio of 19.53, a P/E/G ratio of 2.71 and a beta of 1.16. Masco Corporation has a 12 month low of $56.55 and a 12 month high of $86.70. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 19.63.

Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.22. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2 billion. Masco had a return on equity of 1,519.31% and a net margin of 10.51%.The firm's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. As a group, sell-side analysts forecast that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 8th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. Masco's dividend payout ratio (DPR) is 32.89%.

Insider Transactions at Masco

In other Masco news, insider Jai Shah sold 82,910 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $76.04, for a total transaction of $6,304,476.40. Following the transaction, the insider owned 39,638 shares in the company, valued at approximately $3,014,073.52. This trade represents a 67.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Heath M. Eisman sold 2,431 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $74.62, for a total value of $181,401.22. Following the transaction, the chief accounting officer owned 12,036 shares in the company, valued at approximately $898,126.32. This trade represents a 16.80% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MAS shares. Robert W. Baird lowered Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price for the company. in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Baird R W lowered Masco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their target price on Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Finally, Barclays raised their target price on Masco from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Masco currently has an average rating of "Hold" and an average price target of $74.13.

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.