Masco Corporation $MAS Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. reduced its stake in Masco Corporation by 53.4% in Q1, now holding 0.18% of the company worth approximately $26.4 million.
• Multiple institutional investors, including Mirae Asset Global Investments and Allspring Global Investments, have increased their stakes in Masco during the same period.
• Masco Corporation recently reported an EPS of $1.30 for the last quarter, surpassing expectations, but faced a 1.9% decline in revenue compared to the previous year.

Panagora Asset Management Inc. lessened its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 53.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,967 shares of the construction company's stock after selling 436,167 shares during the quarter. Panagora Asset Management Inc. owned 0.18% of Masco worth $26,423,000 at the end of the most recent quarter.

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

Insider Activity at Masco

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MAS. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Wells Fargo & Company boosted their price objective on Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Oppenheimer set a $79.00 price objective on Masco and gave the company an "outperform" rating in a report on Monday, August 4th. Loop Capital reissued a "hold" rating and issued a $73.00 price objective (up from $62.00) on shares of Masco in a report on Monday, August 4th. Finally, Robert W. Baird lowered Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price objective for the company. in a report on Tuesday, July 22nd. One equities 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's stock. According to MarketBeat.com, Masco presently has an average rating of "Hold" and a consensus price target of $74.13.

Masco Stock Down 0.2%

NYSE:MAS opened at $73.43 on Friday. The firm has a market capitalization of $15.37 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The stock has a 50 day moving average of $68.57 and a 200-day moving average of $67.17. Masco Corporation has a 52 week low of $56.55 and a 52 week high of $86.70. 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 (NYSE:MAS - Get Free Report) last posted its 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. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2 billion. Masco had a return on equity of 1,519.31% and a net margin of 10.51%.The business's revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. Analysts predict that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

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

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