Northern Trust Corp Has $263.27 Million Stock Position in Masco Corporation $MAS

Key Points

• Northern Trust Corp reduced its holdings in Masco Corporation's shares by 2.9%, now owning 3,785,927 shares valued at approximately $263 million.
• Masco reported $1.30 earnings per share for the last quarter, exceeding expectations of $1.08, despite a 1.9% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.31 per share, with a yield of 1.7%, set to be paid on August 25th to investors on record by August 8th.

Northern Trust Corp lowered its stake in Masco Corporation (NYSE:MAS - Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,785,927 shares of the construction company's stock after selling 114,716 shares during the period. Northern Trust Corp owned approximately 1.79% of Masco worth $263,273,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Masco by 10.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,008 shares of the construction company's stock worth $1,580,000 after purchasing an additional 2,184 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Masco by 2.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,007 shares of the construction company's stock valued at $769,000 after buying an additional 270 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Masco by 11.0% in the first quarter. Asset Management One Co. Ltd. now owns 86,131 shares of the construction company's stock valued at $5,990,000 after buying an additional 8,508 shares in the last quarter. Entropy Technologies LP acquired a new stake in Masco in the first quarter valued at about $3,946,000. Finally, State of Alaska Department of Revenue boosted its stake in Masco by 1.0% in the first quarter. State of Alaska Department of Revenue now owns 24,832 shares of the construction company's stock valued at $1,726,000 after buying an additional 235 shares in the last quarter. Institutional investors own 93.91% of the company's stock.

Masco Trading Up 4.5%

Shares of MAS stock traded up $3.25 during mid-day trading on Friday, reaching $75.57. 2,447,920 shares of the stock traded hands, compared to its average volume of 2,610,501. The stock's fifty day simple moving average is $67.29 and its two-hundred day simple moving average is $67.29. Masco Corporation has a 1-year low of $56.55 and a 1-year high of $86.70. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. 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 announced its quarterly earnings results on Thursday, July 31st. The construction company reported $1.30 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the firm posted $1.20 earnings per share. The business'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. On average, research analysts anticipate that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

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

Analysts Set New Price Targets

MAS has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Masco from $65.00 to $74.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Royal Bank Of Canada raised their price objective on Masco from $62.00 to $71.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Wall Street Zen raised Masco from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Baird R W lowered Masco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their price objective on Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. One research 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $74.13.

Insider Activity at Masco

In related news, CAO Heath M. Eisman sold 2,431 shares of Masco stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $74.62, for a total value 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. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

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.