Eastern Bank Has $114,000 Stock Holdings in Masco Corporation $MAS

by · The Markets Daily

Eastern Bank cut its stake in Masco Corporation (NYSE:MAS – Free Report) by 38.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,764 shares of the construction company’s stock after selling 1,087 shares during the quarter. Eastern Bank’s holdings in Masco were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MAS. Nuveen LLC acquired a new position in shares of Masco in the first quarter worth $126,057,000. Wealthquest Corp acquired a new position in shares of Masco in the first quarter worth $111,722,000. Invesco Ltd. increased its stake in shares of Masco by 47.4% in the first quarter. Invesco Ltd. now owns 4,159,518 shares of the construction company’s stock worth $289,253,000 after acquiring an additional 1,337,889 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Masco by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company’s stock worth $1,883,985,000 after acquiring an additional 984,403 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Masco by 3,597.0% in the first quarter. Pacer Advisors Inc. now owns 959,490 shares of the construction company’s stock worth $66,723,000 after purchasing an additional 933,537 shares in the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Stock Down 3.6%

MAS stock opened at $65.00 on Monday. The company has a debt-to-equity ratio of 19.63, a current ratio of 1.82 and a quick ratio of 1.14. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70. The company has a 50-day moving average of $71.96 and a two-hundred day moving average of $66.75. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.38 and a beta of 1.18.

Masco (NYSE:MAS – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) 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 company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. As a group, equities research analysts anticipate that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 8th. Masco’s dividend payout ratio (DPR) is presently 32.89%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MAS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Masco in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Masco from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Oppenheimer set a $79.00 price objective on shares of Masco and gave the stock an “outperform” rating in a report on Monday, August 4th. Wells Fargo & Company upped their price objective on shares of Masco from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Masco from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.60.

View Our Latest Stock Analysis on Masco

Masco Profile

(Free Report)

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.

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