Cibc World Market Inc. Has $387,000 Position in Masco Co. (NYSE:MAS)

Cibc World Market Inc. increased its position in Masco Co. (NYSE:MASGet Rating) by 34.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,654 shares of the construction company’s stock after buying an additional 1,957 shares during the quarter. Cibc World Market Inc.’s holdings in Masco were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Masco by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 21,917,680 shares of the construction company’s stock valued at $1,117,802,000 after buying an additional 688,373 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of Masco by 18.3% in the second quarter. AustralianSuper Pty Ltd now owns 4,870,464 shares of the construction company’s stock valued at $246,445,000 after buying an additional 751,825 shares during the period. Boston Partners boosted its holdings in Masco by 17.7% in the first quarter. Boston Partners now owns 3,812,504 shares of the construction company’s stock valued at $194,433,000 after acquiring an additional 573,854 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Masco by 97.5% in the second quarter. Van ECK Associates Corp now owns 3,418,052 shares of the construction company’s stock valued at $172,953,000 after acquiring an additional 1,687,476 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Masco by 7.6% in the first quarter. Invesco Ltd. now owns 2,241,480 shares of the construction company’s stock valued at $114,316,000 after acquiring an additional 157,918 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MAS. Truist Financial reduced their target price on Masco from $70.00 to $60.00 in a report on Thursday, October 27th. Barclays reduced their target price on Masco from $66.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, October 27th. Credit Suisse Group reduced their target price on Masco to $40.00 in a report on Thursday, October 20th. BMO Capital Markets reduced their target price on Masco from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Thursday, October 27th. Finally, Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $57.00 to $47.00 in a report on Thursday, October 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.86.

Insider Buying and Selling

In related news, Director Reginald M. Turner, Jr. sold 1,100 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $46.81, for a total value of $51,491.00. Following the transaction, the director now directly owns 28,766 shares in the company, valued at approximately $1,346,536.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Reginald M. Turner, Jr. sold 1,100 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $46.81, for a total value of $51,491.00. Following the completion of the sale, the director now directly owns 28,766 shares of the company’s stock, valued at approximately $1,346,536.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith J. Allman sold 10,000 shares of the stock in a transaction on Friday, October 14th. The shares were sold at an average price of $48.79, for a total value of $487,900.00. Following the completion of the sale, the chief executive officer now directly owns 278,295 shares of the company’s stock, valued at $13,578,013.05. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Masco Stock Up 1.4 %

Shares of MAS opened at $50.26 on Wednesday. Masco Co. has a 12-month low of $42.33 and a 12-month high of $71.06. The business’s fifty day moving average is $47.72 and its 200 day moving average is $51.30. The stock has a market cap of $11.34 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.96 and a beta of 1.16.

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Thursday, November 10th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Wednesday, November 9th. Masco’s dividend payout ratio is currently 30.43%.

About Masco

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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.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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