Bank of New York Mellon Corp Has $123.59 Million Holdings in Masco Corporation $MAS

Bank of New York Mellon Corp lessened its position in Masco Corporation (NYSE:MAS) by 4.2% in the 2nd quarter, Holdings Channel reports. The fund owned 1,920,292 shares of the construction company’s stock after selling 83,367 shares during the period. Bank of New York Mellon Corp’s holdings in Masco were worth $123,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAS. Allspring Global Investments Holdings LLC grew its position in Masco by 2.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,007 shares of the construction company’s stock worth $769,000 after acquiring an additional 270 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Masco by 30.4% in the 1st quarter. D.A. Davidson & CO. now owns 12,183 shares of the construction company’s stock valued at $847,000 after purchasing an additional 2,838 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Masco by 7.9% in the first quarter. OneDigital Investment Advisors LLC now owns 3,557 shares of the construction company’s stock worth $247,000 after purchasing an additional 260 shares in the last quarter. World Investment Advisors increased its position in Masco by 7.2% during the first quarter. World Investment Advisors now owns 5,434 shares of the construction company’s stock worth $378,000 after buying an additional 366 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in Masco during the first quarter worth $296,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Masco

In related news, insider Jai Shah sold 82,910 shares of the company’s stock in a transaction dated 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 sale, the insider owned 39,638 shares of the company’s stock, valued at $3,014,073.52. The trade was a 67.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Heath M. Eisman sold 2,431 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $74.62, for a total transaction of $181,401.22. Following the transaction, the chief accounting officer owned 12,036 shares of the company’s stock, valued at approximately $898,126.32. This represents a 16.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Vertical Research initiated coverage on Masco in a research note on Monday, October 20th. They set a “hold” rating for the company. Argus cut their target price on shares of Masco from $82.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday. Baird R W downgraded Masco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. Robert W. Baird lowered Masco from an “outperform” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research note on Tuesday, July 22nd. Finally, UBS Group decreased their target price on Masco from $85.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. One investment 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 company. According to MarketBeat.com, Masco presently has an average rating of “Hold” and a consensus target price of $73.53.

Masco Price Performance

Shares of MAS stock opened at $62.12 on Friday. The company has a market capitalization of $12.90 billion, a P/E ratio of 15.93, a P/E/G 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 Corporation has a 12 month low of $56.55 and a 12 month high of $83.06. The stock has a 50 day moving average of $69.79 and a two-hundred day moving average of $67.14.

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

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Friday, November 7th will be given 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 payout ratio is 31.79%.

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.