First Hawaiian Bank Sells 4,783 Shares of Masco Corporation $MAS

Key Points

• First Hawaiian Bank reduced its stake in Masco Corporation by 34.5%, selling 4,783 shares and bringing its total ownership to 9,075 shares, valued at approximately $631,000.
• Masco's stock has seen recent price target updates from analysts, with Barclays and Oppenheimer raising their targets to $78.00 and $79.00 respectively, while maintaining a mixed rating with numerous "Hold" and a few "Buy" recommendations.
• The construction company recently declared a quarterly dividend of $0.31 per share, representing an annualized dividend yield of 1.7% and reflecting a payout ratio of 32.89%.

First Hawaiian Bank cut its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 34.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,075 shares of the construction company's stock after selling 4,783 shares during the period. First Hawaiian Bank's holdings in Masco were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several research firms have weighed in on MAS. Barclays boosted their price target on Masco from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Oppenheimer set a $79.00 target price on shares of Masco and gave the stock an "outperform" rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Masco in a report on Wednesday, May 28th. Baird R W cut Masco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Masco from $65.00 to $74.00 and gave the stock a "neutral" rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $74.60.

Insider Activity

In other news, insider Jai Shah sold 82,910 shares of Masco 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 sale, the insider directly owned 39,638 shares in the company, valued at $3,014,073.52. The trade was a 67.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Heath M. Eisman sold 2,431 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $74.62, for a total value of $181,401.22. Following the completion of the transaction, the chief accounting officer owned 12,036 shares of the company's stock, valued at $898,126.32. This trade represents a 16.80% 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 Down 2.1%

MAS stock opened at $73.68 on Monday. The company has a fifty day moving average price of $70.37 and a 200 day moving average price of $66.93. 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 $15.42 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.69 and a beta of 1.19. The company has a debt-to-equity ratio of 19.63, a current ratio of 1.82 and a quick ratio of 1.14.

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

Masco Dividend Announcement

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

Want to see what other hedge funds are holding MAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masco Corporation (NYSE:MAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.