Masco Corporation $MAS Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Masco Corporation by 6.7% during the first quarter, bringing its total shares to 66,847 valued at approximately $4.64 million.
• Masco recently reported $1.30 earnings per share for the last quarter, exceeding analysts' expectations of $1.08, although its revenue declined 1.9% year-over-year.
• The company declared a quarterly dividend of $0.31 per share, which will be paid on August 25th, reflecting an annualized yield of 1.7%.

Resona Asset Management Co. Ltd. boosted its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,847 shares of the construction company's stock after purchasing an additional 4,171 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Masco were worth $4,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in MAS. Global X Japan Co. Ltd. increased its position in Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock valued at $26,000 after buying an additional 208 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of Masco during the first quarter worth about $29,000. Costello Asset Management INC acquired a new position in shares of Masco during the first quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Masco in the 1st quarter valued at approximately $33,000. Finally, GeoWealth Management LLC boosted its stake in Masco by 89.0% in the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock worth $50,000 after purchasing an additional 322 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MAS has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their target price on Masco from $62.00 to $71.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Oppenheimer set a $79.00 price objective on Masco and gave the stock an "outperform" rating in a research note on Monday, August 4th. Jefferies Financial Group cut their price target on shares of Masco from $64.00 to $62.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird cut shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price objective for the company. in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $74.13.

Masco Price Performance

MAS traded down $1.0950 during midday trading on Thursday, hitting $71.9250. 286,734 shares of the company traded hands, compared to its average volume of 2,153,711. The business has a 50 day simple moving average of $66.85 and a two-hundred day simple moving average of $67.41. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.71 and a beta of 1.16. 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 quarterly earnings results on Thursday, July 31st. The construction company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the business posted $1.20 earnings per share. Masco's quarterly revenue 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, equities analysts forecast that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a 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.