Nordea Investment Management AB Purchases 206,311 Shares of Masco Corporation $MAS

Key Points

• Nordea Investment Management AB increased its stake in Masco Corporation by 6.6%, owning now 3,311,261 shares worth $212,351,000 after purchasing 206,311 additional shares.
• Insiders, including CAO Heath M. Eisman and Jai Shah, sold significant amounts of stock, reducing their holdings by 16.80% and 67.66% respectively.
• Masco Corporation reported $1.30 EPS for the last quarter, exceeding estimates, while also declaring a quarterly dividend of $0.31, yielding 1.8%.

Nordea Investment Management AB lifted its stake in Masco Corporation (NYSE:MAS - Free Report) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,311,261 shares of the construction company's stock after purchasing an additional 206,311 shares during the period. Nordea Investment Management AB owned about 1.57% of Masco worth $212,351,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Global X Japan Co. Ltd. grew its holdings in shares of Masco by 120.2% in the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after purchasing an additional 208 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of Masco in the first quarter worth about $29,000. Costello Asset Management INC bought a new position in shares of Masco in the first quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Masco in the first quarter worth about $33,000. Finally, Steph & Co. bought a new position in shares of Masco in the second quarter worth about $39,000. 93.91% of the stock is currently owned by institutional investors.

Insider Activity at Masco

In related news, CAO Heath M. Eisman sold 2,431 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 12,036 shares of the company's stock, valued at $898,126.32. This trade represents a 16.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jai Shah sold 82,910 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $76.04, for a total transaction of $6,304,476.40. Following the completion of the transaction, the insider directly owned 39,638 shares of the company's stock, valued at $3,014,073.52. The trade was a 67.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

Masco Trading Down 0.2%

NYSE MAS opened at $67.87 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63. The firm has a market cap of $14.21 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. The company has a 50 day moving average price of $71.76 and a 200 day moving average price of $66.72. Masco Corporation has a 52 week low of $56.55 and a 52 week high of $86.20.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2 billion. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. Masco's revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. As a group, sell-side analysts forecast 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 was paid on Monday, August 25th. Investors of record on Friday, August 8th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 8th. Masco's dividend payout ratio (DPR) is presently 32.89%.

Analyst Upgrades and Downgrades

MAS has been the topic of several recent research reports. Royal Bank Of Canada increased their target price on shares of Masco from $62.00 to $71.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Wells Fargo & Company lifted their price target on Masco from $73.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. Oppenheimer set a $79.00 price target on Masco and gave the company an "outperform" rating in a report on Monday, August 4th. Loop Capital reiterated a "hold" rating and issued a $73.00 price target (up from $62.00) on shares of Masco in a report on Monday, August 4th. Finally, Robert W. Baird lowered shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price target for the company. in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $74.60.

Masco Company 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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