Assenagon Asset Management S.A. Buys 501,813 Shares of Masco Corporation $MAS

Assenagon Asset Management S.A. raised its stake in Masco Corporation (NYSE:MAS) by 540.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 594,676 shares of the construction company’s stock after acquiring an additional 501,813 shares during the period. Assenagon Asset Management S.A. owned about 0.28% of Masco worth $41,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC bought a new stake in shares of Masco in the 2nd quarter worth about $28,000. Headlands Technologies LLC boosted its position in Masco by 114.5% in the second quarter. Headlands Technologies LLC now owns 549 shares of the construction company’s stock valued at $35,000 after buying an additional 293 shares in the last quarter. Caldwell Trust Co acquired a new position in Masco in the second quarter valued at about $37,000. CYBER HORNET ETFs LLC bought a new stake in Masco during the second quarter worth about $37,000. Finally, Steph & Co. acquired a new stake in shares of Masco during the second quarter worth approximately $39,000. 93.91% of the stock is owned by institutional investors.

Masco Stock Performance

Masco stock opened at $65.00 on Friday. The company has a market cap of $13.50 billion, a PE ratio of 16.67, a PEG ratio of 2.82 and a beta of 1.27. The company has a current ratio of 1.88, a quick ratio of 1.20 and a debt-to-equity ratio of 17.53. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $82.18. The company’s 50-day moving average is $64.35 and its two-hundred day moving average is $67.15.

Masco (NYSE:MAS) last posted its quarterly 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). Masco had a return on equity of 1,317.38% and a net margin of 10.89%.The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $1.08 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Masco has set its FY 2025 guidance at 3.900-3.95 EPS. Equities analysts anticipate that Masco Corporation will post 4.34 earnings per share for the current year.

Masco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Friday, November 7th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. Masco’s dividend payout ratio is 31.79%.

Analysts Set New Price Targets

Several research analysts have recently commented on MAS shares. Vertical Research started coverage on Masco in a report on Monday, October 20th. They issued a “hold” rating on the stock. Barclays reiterated an “equal weight” rating and issued a $71.00 price objective (down previously from $76.00) on shares of Masco in a research report on Monday, December 8th. Wells Fargo & Company upgraded Masco from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $75.00 in a report on Monday. Evercore ISI lowered their target price on Masco from $75.00 to $70.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada reduced their price target on shares of Masco from $71.00 to $69.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th. One equities 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 stock. According to data from MarketBeat.com, Masco has a consensus rating of “Hold” and a consensus price target of $73.53.

Masco 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.