Bank of Nova Scotia Invests $1.73 Million in Masco Corporation $MAS

Bank of Nova Scotia purchased a new position in shares of Masco Corporation (NYSE:MAS) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 21,298 shares of the construction company’s stock, valued at approximately $1,733,000.

Other hedge funds have also added to or reduced their stakes in the company. Kendall Capital Management bought a new stake in Masco during the second quarter worth $310,000. Commerce Bank acquired a new stake in shares of Masco in the 2nd quarter valued at $949,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Masco in the 2nd quarter valued at $38,288,000. Quantbot Technologies LP bought a new position in shares of Masco in the 2nd quarter valued at $1,208,000. Finally, Evolve Private Wealth LLC acquired a new position in shares of Masco during the 2nd quarter worth $381,000. 93.91% of the stock is owned by institutional investors.

Masco Price Performance

Shares of MAS opened at $73.57 on Thursday. Masco Corporation has a 12-month low of $58.16 and a 12-month high of $83.64. The business has a 50-day simple moving average of $76.76 and a two-hundred day simple moving average of $71.09. The company has a quick ratio of 1.22, a current ratio of 1.86 and a debt-to-equity ratio of 109.07. The stock has a market cap of $14.51 billion, a PE ratio of 16.91, a PEG ratio of 1.85 and a beta of 1.30.

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

Masco declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the construction company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 24th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, August 24th. This represents a $1.28 annualized dividend and a yield of 1.7%. Masco’s dividend payout ratio (DPR) is currently 29.43%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MAS. Barclays reduced their price objective on Masco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Zacks Research downgraded Masco from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 14th. Wells Fargo & Company increased their target price on shares of Masco from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Evercore lowered shares of Masco from an “outperform” rating to an “in-line” rating and set a $78.00 price target on the stock. in a report on Thursday, July 30th. Finally, UBS Group dropped their price objective on shares of Masco from $97.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Masco presently has a consensus rating of “Hold” and an average price target of $79.88.

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.