Legal & General Group Plc Has $86.79 Million Stock Position in Masco Corporation $MAS

Legal & General Group Plc cut its position in Masco Corporation (NYSE:MAS) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,348,554 shares of the construction company’s stock after selling 113,940 shares during the period. Legal & General Group Plc owned 0.64% of Masco worth $86,793,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in Masco in the first quarter worth approximately $126,057,000. Vanguard Group Inc. raised its position in shares of Masco by 6.6% during the second quarter. Vanguard Group Inc. now owns 28,872,772 shares of the construction company’s stock worth $1,858,252,000 after purchasing an additional 1,780,673 shares during the period. Wealthquest Corp bought a new position in shares of Masco in the 1st quarter worth $111,722,000. Invesco Ltd. grew its position in Masco by 47.4% in the 1st quarter. Invesco Ltd. now owns 4,159,518 shares of the construction company’s stock valued at $289,253,000 after purchasing an additional 1,337,889 shares during the period. Finally, Boston Partners increased its stake in Masco by 16.2% during the 2nd quarter. Boston Partners now owns 5,789,215 shares of the construction company’s stock valued at $372,708,000 after purchasing an additional 808,535 shares in the last quarter. 93.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on MAS shares. Wells Fargo & Company dropped 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 note on Thursday, October 30th. 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 started coverage on Masco in a research note on Monday, October 20th. They set a “hold” rating for the company. Argus lowered their price objective on Masco from $82.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, UBS Group cut their target price on Masco from $85.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Masco presently has a consensus rating of “Hold” and an average target price of $73.53.

Masco Trading Up 2.6%

Shares of MAS stock opened at $63.32 on Wednesday. The company has a debt-to-equity ratio of 17.53, a quick ratio of 1.14 and a current ratio of 1.88. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.69 and a beta of 1.17. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $82.18. The company has a 50-day simple moving average of $66.51 and a two-hundred day simple moving average of $67.27.

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

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Friday, November 7th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, November 7th. Masco’s dividend payout ratio is 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.