TD Asset Management Inc Buys 13,113 Shares of Masco Corporation $MAS

Key Points

• TD Asset Management Inc increased its stake in Masco Corporation by 5.4%, acquiring an additional 13,113 shares during the second quarter, bringing its total ownership to 254,643 shares.
• Masco Corporation's quarterly earnings surpassed expectations, reporting $1.30 earnings per share, exceeding analyst estimates by $0.22, despite a 1.9% year-over-year revenue decline.
• Recent analyst ratings show a mixed outlook on Masco, with Barclays raising its price target to $78.00 and multiple analysts giving a consensus rating of "Hold" with an average price target of $74.60.

TD Asset Management Inc grew its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,643 shares of the construction company's stock after buying an additional 13,113 shares during the quarter. TD Asset Management Inc owned 0.12% of Masco worth $16,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MAS. Global X Japan Co. Ltd. increased its position in Masco by 120.2% during the first quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock valued at $26,000 after acquiring an additional 208 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Masco in the 1st quarter worth $29,000. Costello Asset Management INC bought a new stake in shares of Masco in the 1st quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Masco during the 1st quarter valued at about $33,000. Finally, Steph & Co. purchased a new stake in shares of Masco during the 2nd quarter valued at about $39,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jai Shah sold 82,910 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $3,014,073.52. The trade was a 67.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Heath M. Eisman sold 2,431 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 in the company, 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. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MAS shares. Barclays boosted their price objective on Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded Masco from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. 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 objective on shares of Masco from $73.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Masco in a report on Wednesday, October 8th. 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 company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $74.60.

Masco Price Performance

Shares of MAS stock opened at $67.87 on Friday. The stock 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. 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 firm has a market capitalization of $14.21 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.48 and a beta of 1.18.

Masco (NYSE:MAS - Get Free Report) last released its 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. Masco had a return on equity of 1,519.31% and a net margin of 10.51%.The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The business's revenue was down 1.9% compared to the same quarter last year. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. As a group, sell-side analysts predict that Masco Corporation will post 4.34 earnings per share for the current year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were issued a dividend of $0.31 per share. The ex-dividend date 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 (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.