Canada Pension Plan Investment Board Sells 187,875 Shares of Masco Corporation $MAS

Key Points

• The Canada Pension Plan Investment Board sold 187,875 shares of Masco Corporation, reducing its stake by 43.2%, leaving it with approximately $17.2 million in shares.
• Masco recently reported a quarterly earnings per share (EPS) of $1.30, surpassing analysts' expectations, and announced a quarterly dividend of $0.31 per share.
• Overall, institutional investors own 93.91% of Masco's stock, indicating strong institutional support for the company.

Canada Pension Plan Investment Board decreased its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 43.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,982 shares of the construction company's stock after selling 187,875 shares during the period. Canada Pension Plan Investment Board owned 0.12% of Masco worth $17,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Masco by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company's stock valued at $1,883,985,000 after buying an additional 984,403 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Masco by 47.4% in the first quarter. Invesco Ltd. now owns 4,159,518 shares of the construction company's stock valued at $289,253,000 after buying an additional 1,337,889 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Masco by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 3,882,253 shares of the construction company's stock valued at $269,972,000 after buying an additional 155,351 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Masco by 12.4% in the fourth quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company's stock valued at $200,456,000 after buying an additional 305,156 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Masco by 2.9% in the first quarter. Ameriprise Financial Inc. now owns 2,535,098 shares of the construction company's stock valued at $176,291,000 after buying an additional 71,881 shares in the last quarter. Institutional investors own 93.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MAS shares. Oppenheimer set a $79.00 price target on Masco and gave the company an "outperform" rating in a report on Monday, August 4th. Barclays upped their price target on Masco from $77.00 to $78.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on shares of Masco from $62.00 to $71.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Masco from $65.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Masco in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, Masco has a consensus rating of "Hold" and a consensus price target of $74.13.

Insiders Place Their Bets

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

Masco Stock Up 2.6%

Shares of Masco stock traded up $1.89 on Friday, hitting $75.87. 2,806,501 shares of the company traded hands, compared to its average volume of 1,903,538. The company has a 50-day moving average price of $69.57 and a 200 day moving average price of $67.09. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $86.70. The company has a market cap of $15.88 billion, a PE ratio of 20.13, a PEG ratio of 2.70 and a beta of 1.19.

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

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 8th. Masco's payout ratio is presently 32.89%.

About Masco

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.