Masco Corporation $MAS Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its holdings in shares of Masco Corporation (NYSE:MAS) by 8.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,225 shares of the construction company’s stock after selling 1,235 shares during the period. First Citizens Bank & Trust Co.’s holdings in Masco were worth $851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rehmann Capital Advisory Group boosted its holdings in Masco by 16.1% in the second quarter. Rehmann Capital Advisory Group now owns 18,347 shares of the construction company’s stock valued at $1,181,000 after purchasing an additional 2,551 shares during the last quarter. Schwartz Investment Counsel Inc. raised its position in shares of Masco by 50.0% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 60,000 shares of the construction company’s stock valued at $3,862,000 after purchasing an additional 20,000 shares in the last quarter. Evermay Wealth Management LLC raised its position in shares of Masco by 22.1% in the 2nd quarter. Evermay Wealth Management LLC now owns 1,216 shares of the construction company’s stock valued at $78,000 after purchasing an additional 220 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Masco by 107.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 7,186 shares of the construction company’s stock valued at $488,000 after buying an additional 3,725 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Masco during the second quarter worth approximately $16,173,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Price Performance

Shares of NYSE:MAS opened at $68.10 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63. Masco Corporation has a fifty-two week low of $56.55 and a fifty-two week high of $83.06. The firm has a 50-day simple moving average of $71.43 and a 200 day simple moving average of $66.92. The company has a market cap of $14.26 billion, a PE ratio of 18.06, a P/E/G ratio of 2.80 and a beta of 1.18.

Masco (NYSE:MAS) last issued its earnings results on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.22. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2 billion. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. Masco’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $1.20 earnings per share. Masco has set its FY 2025 guidance at 3.900-4.100 EPS. On average, sell-side analysts anticipate that Masco Corporation will post 4.34 EPS for the current year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Friday, August 8th were given a dividend of $0.31 per share. The ex-dividend date was Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Masco’s payout ratio is currently 32.89%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MAS shares. Vertical Research assumed coverage on shares of Masco in a report on Monday, October 20th. They issued a “hold” rating on the stock. Loop Capital reissued a “hold” rating and issued a $73.00 target price (up previously from $62.00) on shares of Masco in a research report on Monday, August 4th. Zacks Research lowered shares of Masco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. increased their price target on shares of Masco from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 4th. Finally, Baird R W lowered Masco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.86.

Insiders Place Their Bets

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

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.