Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in Masco Corporation $MAS

Key Points

• Sumitomo Mitsui Trust Group reduced its Masco stake by 14.8% in Q1, selling 69,786 shares and leaving it with 402,869 shares worth about $24.3 million.
• Masco reported strong quarterly earnings, with EPS of $1.04 beating estimates, while revenue came in at $1.92 billion, below consensus but still up 6.5% year over year.
• The company authorized a $300 million share repurchase program and continued its dividend, paying $0.32 per share for a 1.7% annualized yield.

Sumitomo Mitsui Trust Group Inc. cut its position in Masco Corporation (NYSE:MAS - Free Report) by 14.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 402,869 shares of the construction company's stock after selling 69,786 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Masco worth $24,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Masco during the 4th quarter worth $194,818,000. Wellington Management Group LLP acquired a new position in Masco during the third quarter worth about $192,948,000. Jacobs Levy Equity Management Inc. grew its stake in Masco by 443.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,330,523 shares of the construction company's stock valued at $164,046,000 after acquiring an additional 1,901,815 shares in the last quarter. Barclays PLC grew its stake in Masco by 234.5% during the 4th quarter. Barclays PLC now owns 1,624,841 shares of the construction company's stock valued at $103,112,000 after acquiring an additional 1,139,098 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Masco by 19.2% in the 4th quarter. JPMorgan Chase & Co. now owns 6,063,286 shares of the construction company's stock valued at $384,776,000 after acquiring an additional 977,684 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Truist Financial boosted their target price on Masco from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Bank of America reduced their price objective on Masco from $69.00 to $61.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Wells Fargo & Company boosted their price objective on Masco from $70.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. BMO Capital Markets cut their target price on Masco from $77.00 to $75.00 and set a "market perform" rating for the company in a research note on Monday, April 20th. Finally, Robert W. Baird lifted their price target on Masco from $72.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $80.07.

Masco Price Performance

NYSE:MAS opened at $76.22 on Tuesday. Masco Corporation has a 52 week low of $58.16 and a 52 week high of $83.21. The stock's fifty day moving average is $72.87 and its two-hundred day moving average is $69.17. The company has a market capitalization of $15.38 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.92 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 109.07.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.16. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. Masco had a return on equity of 815.20% and a net margin of 10.90%.The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS. Masco has set its FY 2026 guidance at 4.100-4.300 EPS. Equities analysts expect that Masco Corporation will post 4.25 EPS for the current year.

Masco declared that its board has approved a share repurchase program on Thursday, May 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 22nd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 22nd. Masco's payout ratio is 31.76%.

Masco Profile

Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door‐bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.

The company's product offerings are organized into two primary segments.

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