US Bancorp DE Lowers Stock Position in Masco Corporation $MAS

Key Points

• US Bancorp DE reduced its stake in Masco Corporation by 5.1%, owning 122,394 shares valued at approximately $7.88 million as of its latest SEC filing.
• Several hedge funds, including Mirae Asset and Allspring Global Investments, have increased their positions in Masco, indicating a growing institutional interest.
• Masco recently reported earnings of $1.30 per share for the last quarter, exceeding estimates, while planning to pay a quarterly dividend of $0.31.

US Bancorp DE cut its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,394 shares of the construction company's stock after selling 6,592 shares during the period. US Bancorp DE owned 0.06% of Masco worth $7,878,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Masco by 10.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,008 shares of the construction company's stock worth $1,580,000 after purchasing an additional 2,184 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Masco by 2.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,007 shares of the construction company's stock worth $769,000 after buying an additional 270 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Masco by 11.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 86,131 shares of the construction company's stock worth $5,990,000 after buying an additional 8,508 shares during the last quarter. Entropy Technologies LP purchased a new stake in Masco during the 1st quarter worth about $3,946,000. Finally, State of Alaska Department of Revenue increased its position in Masco by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 24,832 shares of the construction company's stock worth $1,726,000 after purchasing an additional 235 shares in the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

Several analysts have commented on the company. Oppenheimer set a $79.00 price target on Masco and gave the company an "outperform" rating in a report on Monday, August 4th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Masco in a research note on Wednesday, October 8th. Barclays upped their price target on Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on Masco from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, Baird R W lowered Masco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $74.60.

Masco Price Performance

Shares of MAS opened at $65.00 on Monday. Masco Corporation has a 12 month low of $56.55 and a 12 month high of $86.70. The company has a market cap of $13.61 billion, a P/E ratio of 17.24, a PEG ratio of 2.38 and a beta of 1.18. The stock has a fifty day moving average price of $71.96 and a 200 day moving average price of $66.75. The company has a debt-to-equity ratio of 19.63, a current ratio of 1.82 and a quick ratio of 1.14.

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 (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.22. Masco had a return on equity of 1,519.31% and a net margin of 10.51%.The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. On average, research analysts forecast that Masco Corporation will post 4.34 earnings per share for the current year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders 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 dividend yield of 1.9%. Masco's dividend payout ratio is presently 32.89%.

About Masco

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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