First Interstate Bank Reduces Holdings in Masco Corporation $MAS

First Interstate Bank cut its stake in shares of Masco Corporation (NYSE:MAS) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,647 shares of the construction company’s stock after selling 837 shares during the quarter. First Interstate Bank’s holdings in Masco were worth $2,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MAS. GAMMA Investing LLC boosted its holdings in Masco by 69.6% during the 1st quarter. GAMMA Investing LLC now owns 13,110 shares of the construction company’s stock valued at $912,000 after acquiring an additional 5,378 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Masco by 8.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,707 shares of the construction company’s stock worth $188,000 after buying an additional 204 shares during the period. State of Alaska Department of Revenue lifted its holdings in Masco by 1.0% in 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 buying an additional 235 shares during the period. Praxis Investment Management Inc. lifted its holdings in Masco by 148.2% in the 1st quarter. Praxis Investment Management Inc. now owns 7,050 shares of the construction company’s stock worth $490,000 after buying an additional 4,210 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in Masco by 11.0% in 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 period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jai Shah sold 82,910 shares of the firm’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 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 trade represents a 67.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Heath M. Eisman sold 2,431 shares of the firm’s 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 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 company insiders.

Masco Trading Down 0.2%

MAS opened at $67.87 on Monday. The stock has a market cap of $14.21 billion, a PE ratio of 18.00, a PEG ratio of 2.67 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63. The business has a 50 day moving average of $71.76 and a 200-day moving average of $66.71. Masco Corporation has a 52 week low of $56.55 and a 52 week high of $86.20.

Masco (NYSE:MAS) last released its earnings results on Thursday, July 31st. The construction company reported $1.30 EPS for the quarter, beating 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%.The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. Equities research analysts predict that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 8th. Masco’s dividend payout ratio (DPR) is 32.89%.

Analyst Ratings Changes

MAS has been the subject of several research analyst reports. Zacks Research upgraded Masco from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Royal Bank Of Canada increased their price objective on Masco from $62.00 to $71.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Masco in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on Masco from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Finally, Loop Capital reiterated a “hold” rating and issued a $73.00 price objective (up previously from $62.00) on shares of Masco in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Masco has a consensus rating of “Hold” and an average target price of $74.60.

Masco Company 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.