Royal Bank of Canada Acquires 71,504 Shares of Masco Corporation $MAS

Key Points

• Royal Bank of Canada increased its stake in Masco Corporation by 10.0%, owning approximately $54.9 million worth of shares by the end of the first quarter.
• Masco reported an earnings per share (EPS) of $1.30 for its most recent quarter, surpassing forecasts and showing a year-over-year revenue decline of 1.9%.
• The company announced a quarterly dividend of $0.31 per share, representing an annualized dividend yield of 1.7%.

Royal Bank of Canada grew its stake in Masco Corporation (NYSE:MAS - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 789,411 shares of the construction company's stock after purchasing an additional 71,504 shares during the quarter. Royal Bank of Canada owned about 0.37% of Masco worth $54,895,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MAS. Vanguard Group Inc. raised its stake in Masco by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company's stock worth $1,883,985,000 after buying an additional 984,403 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Masco by 47.4% during the 1st quarter. Invesco Ltd. now owns 4,159,518 shares of the construction company's stock worth $289,253,000 after acquiring an additional 1,337,889 shares during the period. JPMorgan Chase & Co. raised its position in shares of Masco by 4.2% in the 1st quarter. JPMorgan Chase & Co. now owns 3,882,253 shares of the construction company's stock worth $269,972,000 after acquiring an additional 155,351 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Masco by 12.4% in the 4th quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company's stock valued at $200,456,000 after purchasing an additional 305,156 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Masco by 2.9% during the first quarter. Ameriprise Financial Inc. now owns 2,535,098 shares of the construction company's stock valued at $176,291,000 after purchasing an additional 71,881 shares in the last quarter. Institutional investors own 93.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Loop Capital reiterated a "hold" rating and issued a $73.00 price objective (up previously from $62.00) on shares of Masco in a report on Monday, August 4th. Oppenheimer set a $79.00 price target on shares of Masco and gave the stock an "outperform" rating in a research note on Monday, August 4th. Robert W. Baird cut 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. Wells Fargo & Company upped their price objective on shares of Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada lifted their target price on shares of Masco from $62.00 to $71.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Masco has a consensus rating of "Hold" and an average price target of $74.13.

Insider Buying and Selling

In related news, insider Jai Shah sold 82,910 shares of Masco stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $76.04, for a total value of $6,304,476.40. Following the completion of the sale, the insider 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Heath M. Eisman sold 2,431 shares of the company's stock in a transaction 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 sale, the chief accounting officer owned 12,036 shares of the company's stock, valued at approximately $898,126.32. This trade represents a 16.80% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Masco Stock Down 0.2%

Shares of NYSE:MAS traded down $0.16 during trading on Wednesday, reaching $73.30. 1,975,051 shares of the stock traded hands, compared to its average volume of 1,985,757. The stock has a market cap of $15.35 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 2.68 and a beta of 1.19. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.14 and a current ratio of 1.82. The stock has a 50-day moving average of $70.04 and a two-hundred day moving average of $67.05. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70.

Masco (NYSE:MAS - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. The business had revenue of $2.05 billion during 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 company's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. As a group, sell-side analysts expect that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were issued a $0.31 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.24 annualized dividend and a yield of 1.7%. Masco's dividend payout ratio (DPR) is currently 32.89%.

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.