Sitrin Capital Management LLC Lowers Holdings in Masco Corporation $MAS

Key Points

• Sitrin Capital Management LLC reduced its holdings in Masco Corporation by 11.9% during the 2nd quarter, now owning 78,072 shares valued at approximately $5 million.
• Insider Jai Shah sold 82,910 shares of Masco stock for about $6.3 million, significantly decreasing his ownership.
• Analysts have varied opinions on Masco, with Oppenheimer setting a price target of $79.00 and Wells Fargo raising it to $80.00, while overall, Masco has been rated as a "Hold" by multiple firms.

Sitrin Capital Management LLC trimmed its position in Masco Corporation (NYSE:MAS - Free Report) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,072 shares of the construction company's stock after selling 10,553 shares during the quarter. Masco accounts for 2.6% of Sitrin Capital Management LLC's holdings, making the stock its 23rd largest holding. Sitrin Capital Management LLC's holdings in Masco were worth $5,025,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MAS. Global X Japan Co. Ltd. lifted its holdings in shares of Masco by 120.2% in 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 bought a new position in shares of Masco in the 1st quarter worth $29,000. Costello Asset Management INC bought a new position in shares of Masco in the 1st quarter worth $31,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Masco in the 1st quarter worth $33,000. Finally, Steph & Co. bought a new position in shares of Masco in the 2nd quarter worth $39,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Masco

In other Masco news, insider Jai Shah sold 82,910 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was 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 owned 39,638 shares of the company's stock, valued at $3,014,073.52. This represents a 67.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief accounting officer directly owned 12,036 shares of the company's stock, valued at $898,126.32. The trade was a 16.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Oppenheimer set a $79.00 price target on Masco and gave the stock an "outperform" rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their price target on Masco from $73.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. Barclays boosted their price target on Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised Masco from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Baird R W downgraded Masco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Masco currently has an average rating of "Hold" and an average target price of $74.60.

Masco Stock Performance

NYSE MAS opened at $68.84 on Thursday. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.50 and a beta of 1.18. Masco Corporation has a twelve month low of $56.55 and a twelve month high of $86.70. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 19.63. The stock has a 50-day moving average of $72.06 and a 200 day moving average of $66.86.

Masco (NYSE:MAS - Get Free Report) last released 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. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2 billion. Masco had a return on equity of 1,519.31% and a net margin of 10.51%.Masco's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. Sell-side analysts anticipate that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Masco's dividend payout ratio is presently 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.

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