CIBC Private Wealth Group LLC lowered its stake in shares of Masco Corp (NYSE:MAS) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,474 shares of the construction company’s stock after selling 15,689 shares during the period. CIBC Private Wealth Group LLC’s holdings in Masco were worth $9,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors bought a new stake in Masco in the third quarter worth $337,123,000. Iridian Asset Management LLC CT increased its position in Masco by 58.1% in the third quarter. Iridian Asset Management LLC CT now owns 4,901,419 shares of the construction company’s stock worth $179,392,000 after purchasing an additional 1,801,055 shares during the last quarter. Bank of Montreal Can increased its position in Masco by 21.1% in the fourth quarter. Bank of Montreal Can now owns 2,431,679 shares of the construction company’s stock worth $71,102,000 after purchasing an additional 424,453 shares during the last quarter. Pictet Asset Management Ltd. increased its position in Masco by 8.4% in the third quarter. Pictet Asset Management Ltd. now owns 2,266,037 shares of the construction company’s stock worth $82,937,000 after purchasing an additional 176,227 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Masco by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 2,243,111 shares of the construction company’s stock worth $82,098,000 after purchasing an additional 8,315 shares during the last quarter. Hedge funds and other institutional investors own 89.02% of the company’s stock.
In other news, Director Richard A. Manoogian sold 100,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $30.98, for a total transaction of $3,098,000.00. Following the completion of the sale, the director now directly owns 625,961 shares of the company’s stock, valued at $19,392,271.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.
MAS has been the topic of several research reports. TheStreet upgraded shares of Masco from a “c+” rating to a “b-” rating in a research report on Wednesday, February 6th. Citigroup cut their price objective on shares of Masco from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Deutsche Bank cut their price objective on shares of Masco from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Argus set a $43.00 price objective on shares of Masco and gave the company a “buy” rating in a research report on Wednesday, October 31st. Finally, Nomura set a $40.00 price objective on shares of Masco and gave the company a “buy” rating in a research report on Wednesday, October 31st. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $41.65.
Shares of MAS opened at $37.18 on Thursday. The firm has a market cap of $10.83 billion, a PE ratio of 14.87, a P/E/G ratio of 1.18 and a beta of 1.44. Masco Corp has a 12-month low of $27.03 and a 12-month high of $43.69. The company has a quick ratio of 1.08, a current ratio of 1.64 and a debt-to-equity ratio of 43.06.
Masco (NYSE:MAS) last issued its earnings results on Thursday, February 7th. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.01 billion. Masco had a net margin of 8.78% and a return on equity of 520.34%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. Analysts predict that Masco Corp will post 2.68 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, February 11th. Stockholders of record on Friday, January 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, January 10th. Masco’s dividend payout ratio is currently 19.20%.
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Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.
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