Illinois Municipal Retirement Fund Sells 12,577 Shares of Masco Corporation $MAS

Illinois Municipal Retirement Fund cut its position in shares of Masco Corporation (NYSE:MAS) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,043 shares of the construction company’s stock after selling 12,577 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Masco were worth $9,785,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Costello Asset Management INC bought a new position in Masco during the first quarter valued at approximately $31,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Masco in the 1st quarter worth approximately $33,000. Steph & Co. purchased a new stake in shares of Masco in the 2nd quarter valued at $39,000. Stone House Investment Management LLC bought a new position in shares of Masco during the 1st quarter valued at $50,000. Finally, True Wealth Design LLC raised its position in Masco by 716.0% in the 2nd quarter. True Wealth Design LLC now owns 865 shares of the construction company’s stock worth $56,000 after purchasing an additional 759 shares during the period. Institutional investors own 93.91% of the company’s stock.

Insider Buying and Selling at Masco

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 transaction, the insider directly owned 39,638 shares of the company’s stock, valued at $3,014,073.52. This 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 available at this link. 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 completion of the sale, the chief accounting officer 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 disclosure for this sale is available in the SEC filing. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MAS shares. Baird R W lowered shares of Masco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. 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. Vertical Research assumed coverage on Masco in a research report on Monday, October 20th. They set a “hold” rating on the stock. Zacks Research cut Masco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, JPMorgan Chase & Co. increased their price objective on Masco from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.53.

Masco Stock Down 0.8%

Shares of NYSE:MAS opened at $61.47 on Tuesday. The stock’s 50-day moving average is $69.32 and its 200 day moving average is $67.26. The company has a market cap of $12.77 billion, a PE ratio of 15.76, a P/E/G ratio of 2.69 and a beta of 1.17. The company has a debt-to-equity ratio of 17.53, a current ratio of 1.88 and a quick ratio of 1.14. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $83.06.

Masco (NYSE:MAS) last released its quarterly earnings data on Wednesday, October 29th. The construction company reported $0.97 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the business posted $1.08 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. Masco has set its FY 2025 guidance at 3.900-3.95 EPS. 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 will be paid on Monday, November 24th. Shareholders of record on Friday, November 7th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 7th. Masco’s payout ratio is presently 31.79%.

Masco Company 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.