WMS - Masco: An Interesting Picture Has Been Painted
2024-07-19 07:52:18 ET
Summary
- Shares of Masco Corporation have largely followed the market higher since I last rated the firm a 'hold' in October 2022.
- This is in spite of a decline in revenue and due in part to a rise in profits and cash flows.
- The picture for the business is improving, but it's not ready for an upgrade, even as earnings near.
Nearly two years ago, in October 2022, I found myself revisiting Masco Corporation ( MAS ). For those not familiar with the business, it operates as a home improvement and building products provider. Products that it sells include, but are not limited to, paints, bath and shower fixtures, faucets, and more. When I last wrote about the firm, I talked about how shares had gotten cheaper leading up to that point. I discussed how some may have viewed that as a buying opportunity. But I also argued that the decline in price was warranted. Ultimately, I ended up keeping the company rated a 'hold' to reflect my view that shares would be unlikely to outperform the broader market for the foreseeable future. But I did also acknowledge that the stock was getting close to being a 'buy'....
Masco: An Interesting Picture Has Been Painted