Assenagon Asset Management S.A. Trims Holdings in Masco Corporation $MAS

Assenagon Asset Management S.A. cut its holdings in Masco Corporation (NYSE:MAS) by 60.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,863 shares of the construction company’s stock after selling 143,149 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Masco were worth $5,977,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAS. Nuveen LLC purchased a new stake in Masco during the 1st quarter valued at about $126,057,000. Wealthquest Corp purchased a new stake in Masco during the 1st quarter valued at about $111,722,000. Invesco Ltd. grew its position in Masco by 47.4% during 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 last quarter. Vanguard Group Inc. grew its position in Masco by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company’s stock valued at $1,883,985,000 after purchasing an additional 984,403 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Masco by 3,597.0% during the 1st quarter. Pacer Advisors Inc. now owns 959,490 shares of the construction company’s stock valued at $66,723,000 after purchasing an additional 933,537 shares during the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Masco

In other news, insider Jai Shah sold 82,910 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $76.04, for a total value of $6,304,476.40. Following the transaction, the insider owned 39,638 shares in the company, valued at $3,014,073.52. This represents a 67.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Heath M. Eisman sold 2,431 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 12,036 shares in the company, valued at $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 corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MAS. Oppenheimer set a $79.00 price objective on shares of Masco and gave the company an “outperform” rating in a research report on Monday, August 4th. Baird R W downgraded shares of Masco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada increased their price objective on shares of Masco from $62.00 to $71.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Masco in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Masco from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.60.

Masco Price Performance

Shares of NYSE:MAS opened at $71.46 on Wednesday. The firm’s 50 day moving average price is $71.28 and its 200-day moving average price is $66.90. Masco Corporation has a twelve month low of $56.55 and a twelve month high of $86.70. 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 stock has a market capitalization of $14.96 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.22. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The business’s quarterly 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 research analysts expect that Masco Corporation will post 4.34 EPS for the current year.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Friday, August 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 8th. Masco’s dividend payout ratio is 32.89%.

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.