Wedge Capital Management L L P NC Purchases 22,556 Shares of Masco Corporation $MAS

Key Points

• Wedge Capital Management increased its holdings in Masco Corporation by 16.0%, owning approximately 163,765 shares valued at $10.54 million.
• Masco recently reported earnings of $1.30 EPS for the last quarter, surpassing analysts' estimates, with revenues totaling $2.05 billion.
• The company announced a quarterly dividend of $0.31, reflecting a dividend yield of 1.7% and a payout ratio of 32.89%.

Wedge Capital Management L L P NC raised its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,765 shares of the construction company's stock after buying an additional 22,556 shares during the quarter. Wedge Capital Management L L P NC owned about 0.08% of Masco worth $10,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. boosted 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 purchasing an additional 208 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Masco in the 1st quarter worth about $29,000. Costello Asset Management INC purchased a new position in shares of Masco in the 1st quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Masco in the 1st quarter worth about $33,000. Finally, Stone House Investment Management LLC purchased a new stake in Masco during the 1st quarter valued at about $50,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Stock Up 0.5%

MAS traded up $0.39 during trading on Tuesday, hitting $71.42. 594,072 shares of the company's stock traded hands, compared to its average volume of 2,164,025. The company's 50 day simple moving average is $71.14 and its two-hundred day simple moving average is $66.87. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 19.63. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $86.70. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.64 and a beta of 1.19.

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 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 firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the business posted $1.20 EPS. The company's revenue for the quarter was down 1.9% on a year-over-year basis. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. Analysts predict that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

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. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 8th. Masco's dividend payout ratio (DPR) is currently 32.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MAS shares. Zacks Research upgraded Masco from a "hold" rating to a "strong-buy" rating in a report on Friday. Robert W. Baird cut Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price for the company. in a report on Tuesday, July 22nd. Barclays increased their target price on Masco from $77.00 to $78.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Loop Capital restated a "hold" rating and set a $73.00 target price (up from $62.00) on shares of Masco in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Masco in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.60.

Insider Transactions at Masco

In other Masco news, insider Jai Shah sold 82,910 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 39,638 shares of the company's stock, valued at $3,014,073.52. This trade represents a 67.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Heath M. Eisman sold 2,431 shares of the firm's stock in a transaction dated 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 directly owned 12,036 shares in the company, valued at approximately $898,126.32. This represents a 16.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.