Masco Sells Kichler Lighting To Kingswood For $125M: Strategic Move To Streamline Focus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 03 2024
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Should l Buy MAS?
Source: Benzinga
Masco Corporation's Kichler Lighting Sale: Masco Corporation is selling its Kichler Lighting business to Kingswood Capital Management for approximately $125 million, with the deal expected to close by year-end pending regulatory approvals.
Financial Performance and Stock Movement: Masco reported a second-quarter adjusted EPS of $1.20, slightly above estimates, but sales fell short of expectations; MAS shares are currently down 1.7% at $78.21.
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Analyst Views on MAS
Wall Street analysts forecast MAS stock price to rise
12 Analyst Rating
5 Buy
6 Hold
1 Sell
Moderate Buy
Current: 63.730
Low
64.00
Averages
73.64
High
84.00
Current: 63.730
Low
64.00
Averages
73.64
High
84.00
About MAS
Masco Corporation is engaged in designing, manufacturing and distributing branded home improvement and building products. The Company's portfolio of brands includes Behr paint; Delta and hansgrohe faucets, bath and shower fixtures; Liberty branded decorative and functional hardware, and HotSpring spas. Its segments include Plumbing Products and Decorative Architectural Products. The Plumbing Products segment principally includes faucets, plumbing system components and valves, showerheads and handheld showers, bath hardware and accessories, water filtration systems, sinks, kitchen accessories, spas, exercise pools, aquatic fitness systems, and saunas. The Decorative Architectural Products segment primarily includes architectural coatings, including paints, primers, specialty coatings, stains and waterproofing products, as well as paint applicators and accessories. Its products are sold primarily for repair and remodeling activity and, to a lesser extent, new home construction.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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