Masco Corporation $MAS Shares Sold by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC reduced its stake in Masco Corporation by 0.6%, now owning 0.35% of the company, valued at approximately $51.62 million.
• Masco's quarterly earnings showed a 10.51% net margin and reported $1.30 EPS, surpassing analyst estimates of $1.08.
• The firm has declared a $0.31 quarterly dividend, with a dividend yield of 1.7%, to be paid on August 25th to shareholders of record on August 8th.

Lord Abbett & CO. LLC reduced its position in Masco Corporation (NYSE:MAS - Free Report) by 0.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 742,253 shares of the construction company's stock after selling 4,561 shares during the period. Lord Abbett & CO. LLC owned 0.35% of Masco worth $51,616,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harvest Investment Advisors LLC grew its holdings 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 purchasing an additional 165 shares during the period. Evermay Wealth Management LLC lifted its position in shares of Masco by 25.1% during the 1st quarter. Evermay Wealth Management LLC now owns 996 shares of the construction company's stock valued at $69,000 after buying an additional 200 shares in the last quarter. Exchange Traded Concepts LLC lifted its position 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 buying an additional 204 shares in the last quarter. Wedmont Private Capital grew 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 valued at $311,000 after acquiring an additional 208 shares during the period. Finally, Global X Japan Co. Ltd. increased its holdings 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 acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

Wall Street Analyst Weigh In

MAS has been the topic of several recent analyst reports. Loop Capital reaffirmed a "hold" rating and set a $73.00 price objective (up from $62.00) on shares of Masco in a report on Monday, August 4th. Oppenheimer set a $79.00 price target on shares of Masco and gave the company an "outperform" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. lifted their price objective on Masco from $65.00 to $74.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. The Goldman Sachs Group reduced their target price on Masco from $82.00 to $73.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Truist Financial decreased their target price on Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.13.

Masco Price Performance

MAS traded down $1.4560 during trading on Wednesday, reaching $73.0240. The company's stock had a trading volume of 2,418,619 shares, compared to its average volume of 2,739,881. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.71 and a beta of 1.16. The firm has a fifty day simple moving average of $66.85 and a two-hundred day simple moving average of $67.41. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $86.70. 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 (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 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 during the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The business's revenue was down 1.9% compared to the same quarter last year. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. As a group, analysts anticipate that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

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