Neuberger Berman Group LLC Reduces Position in Masco Corporation $MAS

Key Points

• Neuberger Berman Group LLC reduced its stake in Masco Corporation by 26.8%, now owning 58,186 shares valued at approximately $4.05 million.
• Masco reported a Q2 earnings per share of $1.30, exceeding expectations of $1.08, with a revenue of $2.05 billion, despite a year-over-year decline of 1.9%.
• The company recently announced a quarterly dividend of $0.31 per share, translating to an annual yield of 1.7%, with a payout ratio of 32.89%.

Neuberger Berman Group LLC decreased its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 26.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,186 shares of the construction company's stock after selling 21,334 shares during the quarter. Neuberger Berman Group LLC's holdings in Masco were worth $4,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Masco by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company's stock valued at $1,883,985,000 after buying an additional 984,403 shares in the last quarter. Invesco Ltd. lifted its holdings in Masco by 47.4% during the 1st quarter. Invesco Ltd. now owns 4,159,518 shares of the construction company's stock valued at $289,253,000 after buying an additional 1,337,889 shares in the last quarter. Northern Trust Corp lifted its holdings in Masco by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock valued at $283,070,000 after buying an additional 337,164 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Masco by 4.2% during the 1st quarter. JPMorgan Chase & Co. now owns 3,882,253 shares of the construction company's stock valued at $269,972,000 after buying an additional 155,351 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Masco by 12.4% during the 4th quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company's stock valued at $200,456,000 after buying an additional 305,156 shares in the last quarter. Institutional investors own 93.91% of the company's stock.

Masco Stock Down 2.0%

Shares of Masco stock traded down $1.4560 on Wednesday, reaching $73.0240. The stock had a trading volume of 2,418,619 shares, compared to its average volume of 2,739,881. The company has a 50 day moving average price of $66.85 and a 200 day moving average price of $67.41. 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 Corporation has a 1 year low of $56.55 and a 1 year high of $86.70. The stock has a market capitalization of $15.29 billion, a P/E ratio of 19.37, a P/E/G ratio of 2.71 and a beta of 1.16.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) 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 the consensus estimate of $2 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The company's quarterly 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, equities research analysts forecast that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be given a $0.31 dividend. 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 payout ratio is presently 32.89%.

Analysts Set New Price Targets

MAS has been the topic of a number of research reports. Jefferies Financial Group cut their target price on shares of Masco from $64.00 to $62.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird downgraded shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price on the stock. in a research report on Tuesday, July 22nd. Truist Financial cut their target price on shares of Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Masco from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, UBS Group reissued a "buy" rating and set a $80.00 target price (down previously from $91.00) on shares of Masco in a research report on Thursday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Masco currently has an average rating of "Hold" and a consensus target price of $74.13.

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.