MFS Lowers Masco Stake to 7.8% as of Dec 29, 2023

Ticker: MAS · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z

Sentiment: mixed

Topics: institutional-ownership, stake-change, amendment

TL;DR

**MFS cut its Masco stake to 7.8%, signaling a potential shift in institutional confidence.**

AI Summary

Massachusetts Financial Services Company (MFS) filed an amended SC 13G/A on February 9, 2024, indicating a change in their beneficial ownership of Masco Corporation's common stock as of December 29, 2023. This amendment, number 3, shows MFS now beneficially owns 17,999,999 shares, representing 7.8% of Masco's outstanding common stock. This matters to investors because MFS, a large institutional investor, has reduced its stake from a previously higher percentage, which could signal a shift in their confidence or investment strategy regarding Masco.

Why It Matters

A reduction in ownership by a major institutional investor like MFS can be interpreted as a decrease in their conviction about Masco's future performance, potentially influencing other investors' decisions.

Risk Assessment

Risk Level: medium — A decrease in institutional ownership can sometimes precede a period of underperformance for the stock, posing a moderate risk to current and prospective investors.

Analyst Insight

A smart investor would investigate the reasons behind MFS's reduction in Masco shares, potentially by reviewing Masco's recent financial performance and future outlook, before making any investment decisions.

Key Numbers

17,999,999 — Shares Beneficially Owned (This is the total number of Masco common shares MFS reported owning as of December 29, 2023.)
7.8% — Percentage of Class (This represents MFS's current ownership percentage of Masco's common stock, indicating a reduction from previous filings.)
December 29, 2023 — Event Date (This is the specific date that triggered the requirement for MFS to file this amendment, marking the point at which their ownership changed.)

Key Players & Entities

Massachusetts Financial Services Company (company) — the reporting person who filed the SC 13G/A
Masco Corporation (company) — the issuer whose common stock is being reported
17,999,999 shares (dollar_amount) — the number of shares beneficially owned by MFS
7.8% (dollar_amount) — the percentage of Masco's common stock beneficially owned by MFS
December 29, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

Masco Corporation's stock price may experience short-term volatility due to the institutional ownership change. (Masco Corporation) — medium confidence, target: Q1 2024
Other institutional investors might re-evaluate their positions in Masco following MFS's reduced stake. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

Who is the reporting person in this SC 13G/A filing?

The reporting person is Massachusetts Financial Services Company ("MFS"), as stated in Item 1 of the filing.

What is the name of the issuer whose securities are being reported?

The issuer is MASCO CORPORATION, as identified in the 'Name of Issuer' section of the Schedule 13G.

What is the CUSIP number for the class of securities reported?

The CUSIP number for the Common Stock of Masco Corporation is 574599106, as listed on the cover page of the filing.

What was the date of the event that required this filing?

The date of the event which required the filing of this statement was December 29, 2023, as specified on the cover page.

What percentage of Masco Corporation's common stock does MFS beneficially own according to this filing?

Massachusetts Financial Services Company beneficially owns 7.8% of Masco Corporation's Common Stock, as indicated in the filing's summary data.

From the Filing

0000912938-24-000220.txt : 20240209 0000912938-24-000220.hdr.sgml : 20240209 20240209114903 ACCESSION NUMBER: 0000912938-24-000220 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MASCO CORP /DE/ CENTRAL INDEX KEY: 0000062996 STANDARD INDUSTRIAL CLASSIFICATION: HEATING EQUIP, EXCEPT ELEC & WARM AIR & PLUMBING FIXTURES [3430] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 381794485 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-10569 FILM NUMBER: 24613293 BUSINESS ADDRESS: STREET 1: 17450 COLLEGE PARKWAY CITY: LIVONIA STATE: MI ZIP: 48152 BUSINESS PHONE: 3132747400 MAIL ADDRESS: STREET 1: 17450 COLLEGE PARKWAY CITY: LIVONIA STATE: MI ZIP: 48152 FORMER COMPANY: FORMER CONFORMED NAME: MASCO SCREW PRODUCTS CO DATE OF NAME CHANGE: 19731025 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MASSACHUSETTS FINANCIAL SERVICES CO /MA/ CENTRAL INDEX KEY: 0000912938 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 111 HUNTINGTON AVENUE STREET 2: 24TH FLOOR CITY: BOSTON STATE: MA ZIP: 02199 BUSINESS PHONE: 18006372929 MAIL ADDRESS: STREET 1: 111 HUNTINGTON AVENUE STREET 2: 24TH FLOOR CITY: BOSTON STATE: MA ZIP: 02199 SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 3 ) * MASCO CORPORATION (Name of Issuer) Common Stock (Title of Class of Securities) 574599106 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 574599106 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Massachusetts Financial Services Company ("MFS") 04-2747644 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] Not Applicable 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 7,244,159 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 9,070,220 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,070,220 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES Not Applicable 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.0% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer MASCO CORPORATION (b) Address of Issuer's Principal Executive Offices 17450 College Parkway, Livonia, MI 48152 Item 2. (a) Name of Person Filing Massachusetts Financial Services Company (b) Address of Principal Business Office or, if None, Residence 111 Huntington Avenue, Boston, MA 02199 (c) Citizenship Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 574599106 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Fili