CIBC Asset Management Inc Trims Stake in Masco Co. (NYSE:MAS)

CIBC Asset Management Inc lowered its holdings in Masco Co. (NYSE:MASFree Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,815 shares of the construction company’s stock after selling 1,400 shares during the quarter. CIBC Asset Management Inc’s holdings in Masco were worth $2,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in Masco in the fourth quarter valued at $39,000. Union Savings Bank grew its stake in shares of Masco by 91.7% in the fourth quarter. Union Savings Bank now owns 575 shares of the construction company’s stock valued at $39,000 after buying an additional 275 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Masco in the fourth quarter valued at $44,000. VisionPoint Advisory Group LLC grew its stake in shares of Masco by 70.6% in the third quarter. VisionPoint Advisory Group LLC now owns 1,051 shares of the construction company’s stock valued at $56,000 after buying an additional 435 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in shares of Masco in the fourth quarter valued at $69,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Trading Down 1.6 %

NYSE:MAS opened at $66.03 on Friday. The stock has a 50-day simple moving average of $71.45 and a 200-day simple moving average of $70.10. The stock has a market cap of $14.54 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.76 and a beta of 1.27. Masco Co. has a 1 year low of $47.66 and a 1 year high of $78.94. The company has a debt-to-equity ratio of 18.76, a quick ratio of 1.09 and a current ratio of 1.74.

Masco (NYSE:MASGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a return on equity of 865.37% and a net margin of 11.60%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. As a group, analysts anticipate that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 24th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.16 annualized dividend and a dividend yield of 1.76%. Masco’s dividend payout ratio is currently 28.43%.

Analysts Set New Price Targets

MAS has been the subject of a number of research reports. StockNews.com cut Masco from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Loop Capital dropped their price objective on Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Evercore ISI dropped their price objective on Masco from $75.00 to $74.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada lifted their price objective on Masco from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Truist Financial boosted their target price on Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.15.

Get Our Latest Report on MAS

Masco Company Profile

(Free Report)

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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