CIBC Asset Management Inc Buys 2,067 Shares of Masco Co. (NYSE:MAS)

CIBC Asset Management Inc boosted its stake in Masco Co. (NYSE:MAS) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,765 shares of the construction company’s stock after purchasing an additional 2,067 shares during the quarter. CIBC Asset Management Inc’s holdings in Masco were worth $2,750,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC bought a new position in Masco in the 3rd quarter worth about $292,000. ING Groep NV lifted its position in Masco by 70.4% during the third quarter. ING Groep NV now owns 50,489 shares of the construction company’s stock valued at $4,238,000 after purchasing an additional 20,852 shares during the last quarter. Metis Global Partners LLC grew its stake in Masco by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 7,031 shares of the construction company’s stock worth $590,000 after buying an additional 133 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Masco by 10.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 157,513 shares of the construction company’s stock worth $13,222,000 after buying an additional 15,070 shares during the last quarter. Finally, Haverford Trust Co raised its position in shares of Masco by 1.0% during the 3rd quarter. Haverford Trust Co now owns 460,559 shares of the construction company’s stock valued at $38,659,000 after buying an additional 4,368 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors.

Insider Activity

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the sale, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This trade represents a 50.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MAS shares. Wells Fargo & Company boosted their target price on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Evercore ISI upped their price objective on shares of Masco from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Royal Bank of Canada downgraded shares of Masco from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $79.00 to $80.00 in a research note on Wednesday, October 30th. StockNews.com cut Masco from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Loop Capital boosted their target price on Masco from $76.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Masco currently has an average rating of “Hold” and a consensus target price of $85.96.

Masco Trading Down 1.7 %

NYSE:MAS opened at $77.08 on Tuesday. Masco Co. has a 12-month low of $58.89 and a 12-month high of $86.70. The stock has a fifty day moving average price of $81.86 and a 200 day moving average price of $75.29. The firm has a market cap of $16.63 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 2.54 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 annualized dividend and a dividend yield of 1.50%. Masco’s payout ratio is currently 30.85%.

About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.