Masco Corp (MAS) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in shares of Masco Corp (NYSE:MAS) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,331 shares of the construction company’s stock after selling 508 shares during the period. CIBC Asset Management Inc’s holdings in Masco were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Highland Capital Management LLC raised its position in shares of Masco by 1.8% during the 4th quarter. Highland Capital Management LLC now owns 24,201 shares of the construction company’s stock worth $708,000 after purchasing an additional 430 shares during the last quarter. ETF Managers Group LLC raised its position in shares of Masco by 18.3% during the 4th quarter. ETF Managers Group LLC now owns 3,298 shares of the construction company’s stock worth $96,000 after purchasing an additional 510 shares during the last quarter. Advisor Group Inc. raised its position in shares of Masco by 2.8% during the 4th quarter. Advisor Group Inc. now owns 25,958 shares of the construction company’s stock worth $759,000 after purchasing an additional 704 shares during the last quarter. Hills Bank & Trust Co. raised its position in shares of Masco by 3.5% during the 4th quarter. Hills Bank & Trust Co. now owns 28,480 shares of the construction company’s stock worth $833,000 after purchasing an additional 950 shares during the last quarter. Finally, Granite Investment Advisors LLC raised its position in shares of Masco by 13.8% during the 4th quarter. Granite Investment Advisors LLC now owns 8,250 shares of the construction company’s stock worth $241,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.

In other news, Director Lisa A. Payne sold 9,117 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $39.56, for a total value of $360,668.52. Following the completion of the sale, the director now owns 52,038 shares of the company’s stock, valued at approximately $2,058,623.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard A. O’reagan sold 12,336 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $39.48, for a total transaction of $487,025.28. Following the completion of the sale, the insider now directly owns 54,403 shares of the company’s stock, valued at approximately $2,147,830.44. The disclosure for this sale can be found here. In the last three months, insiders sold 298,940 shares of company stock valued at $11,890,269. Corporate insiders own 1.20% of the company’s stock.

Masco stock opened at $38.91 on Friday. Masco Corp has a 1-year low of $27.03 and a 1-year high of $42.27. The company has a debt-to-equity ratio of 43.06, a current ratio of 1.64 and a quick ratio of 1.08. The company has a market capitalization of $11.56 billion, a PE ratio of 15.56, a PEG ratio of 1.41 and a beta of 1.46.

Masco (NYSE:MAS) last posted its quarterly earnings results on Thursday, February 7th. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. Masco had a net margin of 8.78% and a return on equity of 520.34%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts forecast that Masco Corp will post 2.69 earnings per share for the current fiscal year.

A number of research firms have commented on MAS. Robert W. Baird set a $41.00 price objective on shares of Masco and gave the company a “buy” rating in a report on Friday, February 8th. Credit Suisse Group reiterated a “hold” rating and issued a $34.00 price objective on shares of Masco in a report on Thursday, February 7th. Royal Bank of Canada upgraded shares of Masco from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $37.00 to $38.00 in a report on Monday, December 3rd. SunTrust Banks increased their price objective on shares of Masco to $52.00 and gave the company a “buy” rating in a report on Thursday. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Masco from a “sell” rating to a “hold” rating in a report on Thursday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Masco currently has a consensus rating of “Buy” and an average target price of $42.90.

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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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