Assenagon Asset Management S.A. Sells 32,986 Shares of Masco Corporation $MAS

Key Points

• Assenagon Asset Management reduced its Masco stake by 23.8% in the first quarter, selling 32,986 shares and leaving it with 105,773 shares valued at about $6.39 million.
• Masco reported Q1 earnings of $1.04 per share, topping estimates, though revenue of $1.92 billion came in below expectations; the company also reiterated FY2026 EPS guidance of $4.10 to $4.30.
• The board authorized a $300 million share buyback and Masco paid a quarterly dividend of $0.32 per share, equal to a 1.6% annual yield.

Assenagon Asset Management S.A. cut its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 23.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,773 shares of the construction company's stock after selling 32,986 shares during the quarter. Assenagon Asset Management S.A. owned about 0.05% of Masco worth $6,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Masco by 0.6% during the fourth quarter. State Street Corp now owns 10,235,505 shares of the construction company's stock worth $649,545,000 after acquiring an additional 60,430 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Masco by 19.2% in the 4th quarter. JPMorgan Chase & Co. now owns 6,063,286 shares of the construction company's stock worth $384,776,000 after purchasing an additional 977,684 shares in the last quarter. Boston Partners boosted its position in shares of Masco by 1.0% in the 3rd quarter. Boston Partners now owns 5,850,170 shares of the construction company's stock worth $411,832,000 after purchasing an additional 58,609 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Masco by 76.1% in the 4th quarter. Wellington Management Group LLP now owns 4,826,584 shares of the construction company's stock worth $306,295,000 after buying an additional 2,085,454 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Masco by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 4,371,864 shares of the construction company's stock worth $278,619,000 after buying an additional 267,012 shares during the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Stock Performance

Shares of MAS stock opened at $79.88 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 109.07. The company has a 50 day moving average price of $70.93 and a 200-day moving average price of $67.97. Masco Corporation has a 52 week low of $58.16 and a 52 week high of $80.80. The firm has a market capitalization of $16.11 billion, a PE ratio of 19.82, a P/E/G ratio of 1.97 and a beta of 1.31.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.16. Masco had a net margin of 10.90% and a return on equity of 815.20%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. Masco has set its FY 2026 guidance at 4.100-4.300 EPS. As a group, equities research analysts expect that Masco Corporation will post 4.25 earnings per share for the current year.

Masco declared that its board has authorized a share repurchase plan on Thursday, May 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 22nd. Masco's dividend payout ratio is presently 31.76%.

Analyst Ratings Changes

A number of brokerages have issued reports on MAS. Bank of America lowered their price objective on Masco from $69.00 to $61.00 and set an "underperform" rating for the company in a research note on Monday, April 20th. Truist Financial increased their target price on Masco from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. UBS Group raised their price target on Masco from $96.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Wells Fargo & Company lifted their price target on Masco from $70.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Masco from $74.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $80.07.

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.

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