Oppenheimer Asset Management Inc. Lowers Stake in Masco Corporation $MAS

Oppenheimer Asset Management Inc. lowered its stake in shares of Masco Corporation (NYSE:MAS) by 1.4% in the second quarter, HoldingsChannel.com reports. The firm owned 148,775 shares of the construction company’s stock after selling 2,074 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Masco were worth $9,575,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Masco by 10.5% during the 1st 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 boosted its position 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 purchasing an additional 270 shares during the period. Asset Management One Co. Ltd. boosted its position 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 purchasing an additional 8,508 shares during the period. Entropy Technologies LP purchased a new position in shares of Masco during the 1st quarter worth approximately $3,946,000. Finally, Nordea Investment Management AB boosted its position in Masco by 6.6% in the 2nd quarter. Nordea Investment Management AB now owns 3,311,261 shares of the construction company’s stock valued at $212,351,000 after buying an additional 206,311 shares during the period. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Buying and Selling at Masco

In related news, insider Jai Shah sold 82,910 shares of Masco stock in a transaction on Friday, August 22nd. The shares were 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 in the company, valued at $3,014,073.52. This trade represents a 67.66% decrease in their position. The sale 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 Masco stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $74.62, for a total transaction of $181,401.22. Following the sale, the chief accounting officer owned 12,036 shares in the company, valued at $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 Price Performance

Shares of MAS opened at $68.10 on Monday. Masco Corporation has a twelve month low of $56.55 and a twelve month high of $83.06. The firm’s fifty day simple moving average is $71.43 and its 200-day simple moving average is $67.00. The firm has a market capitalization of $14.26 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.74 and a beta of 1.18. 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 (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.22. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the business earned $1.20 EPS. The company’s revenue was down 1.9% on a year-over-year basis. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. Equities analysts forecast that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

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

Analyst Ratings Changes

MAS has been the subject of several recent research reports. Wells Fargo & Company raised their price target 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. Robert W. Baird cut shares of Masco from an “outperform” rating to a “neutral” rating and set a $70.00 price target for the company. in a research report on Tuesday, July 22nd. Oppenheimer set a $79.00 price target on shares of Masco and gave the company an “outperform” rating in a research report on Monday, August 4th. Vertical Research initiated coverage on shares of Masco in a research report on Monday, October 20th. They issued a “hold” rating for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Masco in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.86.

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.