Rafferty Asset Management LLC Lowers Position in Masco Corporation $MAS

Key Points

• Rafferty Asset Management has reduced its stake in Masco Corporation by 6.3% in the first quarter, now holding 77,616 shares worth approximately $5.4 million.
• Masco recently reported a quarterly earnings per share of $1.30, exceeding analysts' expectations of $1.08, despite a 1.9% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.31 with a yield of 1.7%, reflecting a dividend payout ratio of 32.89%.

Rafferty Asset Management LLC reduced its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,616 shares of the construction company's stock after selling 5,198 shares during the period. Rafferty Asset Management LLC's holdings in Masco were worth $5,397,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MAS. Global X Japan Co. Ltd. grew 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 buying an additional 208 shares during the period. Alpine Bank Wealth Management purchased a new stake in Masco during the 1st quarter valued at $29,000. Costello Asset Management INC purchased a new position in Masco in the first quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Masco in the 1st quarter worth approximately $33,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Masco in the first quarter valued at approximately $50,000. 93.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MAS. Baird R W lowered Masco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Wells Fargo & Company boosted their target price on shares of Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Loop Capital reissued a "hold" rating and issued a $73.00 target price (up previously from $62.00) on shares of Masco in a report on Monday, August 4th. Finally, Barclays raised their target price on Masco from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. 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 data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $74.13.

Insider Transactions at Masco

In related news, insider Jai Shah sold 82,910 shares of the firm'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 completion of the transaction, the insider directly owned 39,638 shares of the company's stock, valued at approximately $3,014,073.52. This trade represents a 67.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Heath M. Eisman sold 2,431 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $74.62, for a total transaction of $181,401.22. Following the sale, the chief accounting officer directly owned 12,036 shares in the company, valued at $898,126.32. The trade was a 16.80% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Masco Trading Down 1.7%

Shares of MAS stock traded down $1.22 on Tuesday, reaching $72.17. 1,293,569 shares of the stock were exchanged, compared to its average volume of 2,148,164. Masco Corporation has a one year low of $56.55 and a one year high of $86.70. The stock has a market cap of $15.11 billion, a PE ratio of 19.14, a P/E/G ratio of 2.68 and a beta of 1.19. The company has a debt-to-equity ratio of 19.63, a current ratio of 1.82 and a quick ratio of 1.14. The stock has a 50 day moving average price of $68.78 and a 200 day moving average price of $67.06.

Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) 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 the consensus estimate of $2 billion. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The firm's revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. Equities research analysts forecast that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 8th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.24 annualized dividend and a yield of 1.7%. Masco's 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.