Comerica Bank Sells 4,524 Shares of Masco Corporation $MAS

Key Points

• Comerica Bank reduced its holdings in Masco Corporation by 4.2%, owning 103,420 shares worth approximately $7.19 million after selling 4,524 shares in the first quarter.
• Several hedge funds have made significant moves, with Nuveen LLC acquiring a stake valued at $126 million and Pacer Advisors Inc. increasing its position by an astounding 3,597%.
• Masco recently declared a quarterly dividend of $0.31 per share, with a payout ratio of 32.89% and an annualized yield of 1.7%.

Comerica Bank cut its position in Masco Corporation (NYSE:MAS - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,420 shares of the construction company's stock after selling 4,524 shares during the period. Comerica Bank's holdings in Masco were worth $7,192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Investment Advisors LLC lifted its stake in Masco by 0.7% in the first quarter. Harvest Investment Advisors LLC now owns 23,063 shares of the construction company's stock valued at $1,604,000 after buying an additional 165 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in shares of Masco by 25.1% during the first quarter. Evermay Wealth Management LLC now owns 996 shares of the construction company's stock worth $69,000 after acquiring an additional 200 shares during the period. Exchange Traded Concepts LLC lifted its position in Masco by 8.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,707 shares of the construction company's stock valued at $188,000 after acquiring an additional 204 shares in the last quarter. Wedmont Private Capital boosted its stake in Masco by 4.9% in the 1st quarter. Wedmont Private Capital now owns 4,472 shares of the construction company's stock worth $311,000 after purchasing an additional 208 shares during the period. Finally, Global X Japan Co. Ltd. increased its holdings in Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after purchasing an additional 208 shares in the last quarter. 93.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MAS has been the topic of a number of research reports. Royal Bank Of Canada boosted their price target on Masco from $62.00 to $71.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Robert W. Baird lowered Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price on the stock. in a research report on Tuesday, July 22nd. Baird R W downgraded Masco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Oppenheimer set a $79.00 price target on shares of Masco and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Barclays boosted their price objective on shares of Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Masco presently has an average rating of "Hold" and an average price target of $74.13.

Insider Activity

In related news, 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 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 represents a 16.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jai Shah sold 82,910 shares of the stock in a transaction dated 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 directly owned 39,638 shares in the company, valued at approximately $3,014,073.52. This represents a 67.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Masco Stock Performance

Shares of MAS traded down $1.04 during mid-day trading on Tuesday, reaching $72.35. The company's stock had a trading volume of 2,277,385 shares, compared to its average volume of 2,015,991. 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 Corporation has a 1-year low of $56.55 and a 1-year high of $86.70. The business has a 50-day simple moving average of $68.95 and a two-hundred day simple moving average of $67.09. The stock has a market cap of $15.15 billion, a P/E ratio of 19.19, a PEG ratio of 2.68 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.22. Masco had a return on equity of 1,519.31% and a net margin of 10.51%.The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. As a group, equities research analysts anticipate that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

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

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.