State of New Jersey Common Pension Fund D Trims Stock Position in Masco Corporation $MAS

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Masco Corporation by 11.9%, owning 63,995 shares valued at approximately $4.45 million after selling 8,613 shares in the first quarter.
• Masco reported a quarterly EPS of $1.30, exceeding analyst expectations of $1.08, though its revenue declined by 1.9% from the previous year.
• The company declared a quarterly dividend of $0.31, reflecting an annualized yield of 1.7% with a dividend payout ratio of 32.89%.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,995 shares of the construction company's stock after selling 8,613 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Masco were worth $4,450,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MAS. Harvest Investment Advisors LLC grew its stake in shares of 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 increased 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 valued at $69,000 after purchasing an additional 200 shares during 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 worth $188,000 after purchasing an additional 204 shares during the last quarter. Wedmont Private Capital lifted its holdings in Masco by 4.9% during the 1st quarter. Wedmont Private Capital now owns 4,472 shares of the construction company's stock worth $311,000 after buying an additional 208 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its position in shares of 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 acquiring an additional 208 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MAS has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Wall Street Zen raised Masco from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Barclays raised their price target on Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada boosted 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Masco from $65.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. One research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $74.13.

Insider Activity

In related news, CAO Heath M. Eisman sold 2,431 shares of the firm'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 completion of the sale, the chief accounting officer owned 12,036 shares in the company, valued at $898,126.32. This trade represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Masco Stock Performance

Shares of NYSE:MAS traded down $0.8350 during midday trading on Monday, hitting $74.7450. The stock had a trading volume of 201,993 shares, compared to its average volume of 2,150,419. Masco Corporation has a 1 year low of $56.55 and a 1 year 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. The stock has a 50 day moving average price of $67.29 and a two-hundred day moving average price of $67.21. The company has a market capitalization of $15.65 billion, a PE ratio of 19.84, a P/E/G ratio of 2.76 and a beta of 1.16.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.05 billion for 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 firm's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. As a group, equities analysts predict that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

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 paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. Masco's dividend 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.