Palmer Knight Co Acquires New Position in Masco Corporation $MAS

Palmer Knight Co acquired a new position in shares of Masco Corporation (NYSE:MAS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 98,522 shares of the construction company’s stock, valued at approximately $8,017,000. Masco accounts for 3.1% of Palmer Knight Co’s portfolio, making the stock its 18th biggest position.

A number of other large investors have also recently bought and sold shares of the business. Focus Partners Wealth grew its holdings in shares of Masco by 2.6% during the first quarter. Focus Partners Wealth now owns 10,414 shares of the construction company’s stock valued at $724,000 after purchasing an additional 265 shares during the last quarter. CW Advisors LLC bought a new stake in shares of Masco in the 2nd quarter worth approximately $238,000. Bank of Nova Scotia boosted its position in Masco by 14.8% during the 2nd quarter. Bank of Nova Scotia now owns 25,555 shares of the construction company’s stock valued at $1,645,000 after purchasing an additional 3,294 shares during the period. WINTON GROUP Ltd acquired a new position in Masco during the 2nd quarter valued at approximately $415,000. Finally, Daiwa Securities Group Inc. grew its stake in Masco by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 31,832 shares of the construction company’s stock worth $2,049,000 after buying an additional 1,413 shares during the last quarter. Institutional investors own 93.91% of the company’s stock.

Masco Price Performance

Shares of MAS opened at $73.39 on Wednesday. Masco Corporation has a one year low of $58.16 and a one year high of $83.64. The stock’s fifty day moving average is $76.74 and its 200-day moving average is $70.87. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.22 and a current ratio of 1.86. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.88 and a beta of 1.30.

Masco (NYSE:MAS) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.32. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.08 billion. Masco had a net margin of 11.61% and a return on equity of 2,379.08%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 earnings per share. Masco has set its FY 2026 guidance at 4.400-4.600 EPS. Equities analysts anticipate that Masco Corporation will post 4.52 EPS for the current year.

Masco declared that its board has approved a share buyback plan on Thursday, May 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 24th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 24th. Masco’s dividend payout ratio is currently 29.43%.

Analysts Set New Price Targets

Several brokerages have weighed in on MAS. Weiss Ratings raised Masco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft set a $74.00 price target on shares of Masco in a research report on Monday, August 3rd. Barclays dropped their price objective on shares of Masco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Citigroup cut their price objective on shares of Masco from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Masco from $74.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $79.87.

Masco Profile

Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door‐bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.

The company’s product offerings are organized into two primary segments.