CIBC Asset Management Inc Buys 360 Shares of Masco Corp (NYSE:MAS)

CIBC Asset Management Inc raised its stake in Masco Corp (NYSE:MAS) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,034 shares of the construction company’s stock after buying an additional 360 shares during the period. CIBC Asset Management Inc’s holdings in Masco were worth $1,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Masco by 5.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,192,900 shares of the construction company’s stock valued at $59,896,000 after buying an additional 58,047 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in shares of Masco in the 2nd quarter valued at about $275,000. SeaBridge Investment Advisors LLC acquired a new position in shares of Masco in the 2nd quarter valued at about $2,526,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Masco by 27.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 18,026 shares of the construction company’s stock valued at $905,000 after purchasing an additional 3,922 shares during the period. Finally, Executive Wealth Management LLC acquired a new position in shares of Masco in the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

A number of brokerages have recently issued reports on MAS. KeyCorp boosted their price objective on Masco from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. boosted their price objective on Masco from $38.50 to $53.50 in a research note on Friday, July 10th. Nomura boosted their price objective on Masco from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. TheStreet raised Masco from a “c+” rating to a “b” rating in a research note on Thursday. Finally, Zacks Investment Research raised Masco from a “sell” rating to a “hold” rating and set a $39.00 price objective on the stock in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. Masco presently has an average rating of “Buy” and a consensus target price of $52.69.

Shares of Masco stock opened at $57.16 on Friday. The company has a market cap of $15.08 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 2.34 and a beta of 1.49. Masco Corp has a 52 week low of $27.04 and a 52 week high of $57.85. The business has a 50 day moving average price of $50.53 and a 200-day moving average price of $44.69. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 68.16.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.71 by $0.13. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.69 billion. Masco had a negative return on equity of 1,729.19% and a net margin of 19.23%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, research analysts anticipate that Masco Corp will post 2.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 10th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, July 9th. Masco’s dividend payout ratio (DPR) is presently 24.00%.

In other news, CAO John P. Lindow sold 5,674 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $49.00, for a total value of $278,026.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,958 shares of the company’s stock, valued at $1,173,942. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO John P. Lindow sold 1,246 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $50.00, for a total value of $62,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 22,712 shares of the company’s stock, valued at $1,135,600. The disclosure for this sale can be found here. Corporate insiders own 1.23% of the company’s stock.

Masco Company Profile

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

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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