Impax Asset Management Group plc Raises Position in Masco Corporation $MAS

Impax Asset Management Group plc lifted its position in shares of Masco Corporation (NYSE:MAS) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,635,143 shares of the construction company’s stock after acquiring an additional 390,802 shares during the quarter. Impax Asset Management Group plc’s holdings in Masco were worth $169,598,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in Masco by 6.6% during the second quarter. Nordea Investment Management AB now owns 3,311,261 shares of the construction company’s stock worth $212,351,000 after acquiring an additional 206,311 shares during the period. Entropy Technologies LP purchased a new stake in shares of Masco during the 1st quarter worth $3,946,000. Tredje AP fonden grew its stake in shares of Masco by 25.7% during the 2nd quarter. Tredje AP fonden now owns 22,038 shares of the construction company’s stock worth $1,418,000 after purchasing an additional 4,507 shares during the period. Swedbank AB increased its holdings in shares of Masco by 43.4% in the 2nd quarter. Swedbank AB now owns 155,019 shares of the construction company’s stock valued at $9,977,000 after purchasing an additional 46,932 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Masco by 7.2% in the first quarter. LPL Financial LLC now owns 187,893 shares of the construction company’s stock valued at $13,066,000 after purchasing an additional 12,686 shares during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MAS shares. Argus lowered their price target on Masco from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Evercore ISI lowered their target price on Masco from $75.00 to $70.00 and set an “in-line” rating on the stock in a report on Thursday, October 30th. Royal Bank Of Canada cut their price target on Masco from $71.00 to $69.00 and set a “sector perform” rating for the company in a research note on Thursday, October 30th. Wells Fargo & Company decreased their price objective on shares of Masco from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Finally, Robert W. Baird downgraded shares of 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.53.

Insider Activity at Masco

In related news, 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jai Shah sold 82,910 shares of the company’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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is currently owned by company insiders.

Masco Price Performance

NYSE:MAS opened at $62.49 on Thursday. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $83.06. The company’s 50-day moving average is $68.92 and its two-hundred day moving average is $67.24. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 2.69 and a beta of 1.17. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 17.53.

Masco (NYSE:MAS) last posted its quarterly earnings data on Wednesday, October 29th. The construction company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.05). The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. Masco had a return on equity of 1,317.38% and a net margin of 10.89%.Masco’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 EPS. Masco has set its FY 2025 guidance at 3.900-3.95 EPS. Research analysts expect that Masco Corporation will post 4.34 EPS for the current year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Friday, November 7th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, November 7th. Masco’s dividend payout ratio is presently 31.79%.

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.