CIBC Asset Management Inc Has $2.75 Million Stock Position in Masco Co. (NYSE:MAS)

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

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

Masco Stock Performance

Shares of Masco stock opened at $77.08 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74. The company 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 50 day moving average of $81.86 and a 200-day moving average of $75.29. Masco Co. has a 1-year low of $58.89 and a 1-year high of $86.70.

Masco (NYSE:MAS) last released its 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 analysts’ expectations of $2 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on MAS. Truist Financial boosted their price objective on Masco from $84.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird cut their price target on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company 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. BMO Capital Markets increased their price target on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Loop Capital lifted their price target on Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.96.

Insider Activity at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the 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 completion of the transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 50.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Masco Profile

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.