Masco Stock Price, News & Analysis

Kingswood Capital Management has acquired Kichler Lighting from Masco (NYSE: MAS) and will merge it with Progress Lighting to create a leading residential lighting platform in North America. The combined company will leverage complementary brands, expanded distribution, and enhanced service capabilities to serve various sales channels. Sean Veit, former Progress CEO, will lead as CEO, while Vijay Shankar, former Kichler President, will serve as Executive Chairman.

This strategic merger aims to preserve and enhance the distinct positioning of both Progress and Kichler brands, founded in 1906 and 1938 respectively. The leadership team, comprised of executives from both companies, is focused on a thoughtful integration process to maximize benefits for customers across homebuilder, trade, showroom, retail, and ecommerce segments.

Masco (NYSE: MAS) has announced a definitive agreement to sell its Kichler Lighting business to an affiliate of Kingswood Capital Management for approximately $125 million, subject to adjustments. Kichler Lighting, based in Solon, Ohio, provides decorative residential and light commercial lighting products. The transaction is expected to close by year-end, pending regulatory approvals.

Keith Allman, President and CEO of Masco, stated that Kichler has undergone transformations under Masco's ownership, improving efficiency and innovation. He believes the business has greater growth potential as part of an organization more focused on lighting. Kingswood Capital Management, the buyer, already owns Progress Lighting, another decorative lighting solutions provider.

Masco (NYSE: MAS), a global leader in home improvement and building products, has announced that Rick Westenberg, Vice President, Chief Financial Officer and Treasurer, will participate in a live fireside chat at the Jefferies Industrial Conference in New York City on Thursday, September 5, at 8:05 a.m. ET.

The presentation will be webcast live on Masco's website and available for replay until December 3, 2024. Masco's portfolio includes renowned brands such as Behr® paint, Delta® and hansgrohe® fixtures, Kichler® lighting, Liberty® hardware, and HotSpring® spas. The company leverages these brands across various product categories, sales channels, and geographies to create value for customers and shareholders.

Behr Paint Company has announced its 2025 Color of the Year: Rumors, a deep ruby red that combines warmth and vitality. This choice reflects a growing trend among Americans to embrace bold colors, with 75% considering painting a room or wall red. Erika Woelfel, VP of Color and Creative Services, notes that Rumors offers a modern take on timeless red, creating an energetic appeal.

New research reveals that Americans recognize red's positive impact in home design:

• 86% believe red front doors make homes stand out
• 84% say a small pop of red catches attention
• 70% feel red can make a space more elegant and cohesive
• 60% feel energized by red in home design

Rumors is versatile enough for various applications, from accent walls to full room transformations, appealing to DIYers, designers, and paint professionals alike.

Masco (NYSE: MAS) reported its second quarter 2024 results, showing mixed performance. Net sales decreased 2% to $2,091 million, while operating profit decreased 1% to $397 million. However, the company saw improvements in margins, with operating profit margin increasing 10 basis points to 19.0%. Earnings per share remained relatively stable at $1.17, with adjusted EPS growing 1% to $1.20.

Despite challenging market conditions, Masco demonstrated operational efficiency, maintaining strong adjusted operating profit margins of 19.1%. The company returned $206 million to shareholders through dividends and share repurchases. Looking ahead, Masco updated its 2024 adjusted earnings per share guidance to $4.05 - $4.20, reflecting ongoing demand headwinds but confidence in long-term market fundamentals.

Masco (NYSE: MAS) has announced its second-quarter earnings release and conference call scheduled for July 25, 2024. The results will be shared at 7:00 a.m. ET, followed by a conference call at 8:00 a.m. ET, hosted by CEO Keith Allman. Participants can join the call by dialing specified numbers and using the provided conference ID. The webcast will be available on the company's website, with a replay accessible until August 25, 2024. Masco, headquartered in Livonia, Michigan, is a global leader in home improvement and building products, with brands such as Behr®, Delta®, and Kichler®.

Masco (NYSE: MAS) has received an unsolicited mini-tender offer from TRC Capital Investment to purchase up to 2 million shares of Masco common stock at $64.00 per share. This price is 4.68% lower than the $67.14 closing price of Masco's stock on June 10, 2024. The offer represents approximately 0.92% of Masco's outstanding shares. Masco recommends shareholders reject the offer because it is below market value and subject to many conditions. The SEC has warned that such mini-tender offers often provide less protection to investors. The offer is set to expire at 11:59 p.m. on July 11, 2024, but may be extended at TRC Capital’s discretion.

Behr Paint Company has launched its inaugural Commercial Color Forecast, unveiling a visionary palette of 50 colors for future commercial spaces.

The 2025 Commercial Color Forecast, titled 'No Clear Boundaries,' includes five themes ranging from neutral to bold tones. The themes are Limitless Whites, Bleisure, Renew-trals, Grand-Luxe, and AI-sthetic, each offering unique possibilities for various design projects.

This forecast, developed with insights from top architectural firms, will debut at NeoCon in Chicago on June 10-12, 2024.

Masco (NYSE: MAS) declared a quarterly dividend of $0.29 per common share, payable on June 10, 2024. Masco is a global leader in home improvement and building products, with brands like Behr®, Delta®, and Kichler®. The company focuses on creating value for customers and shareholders.