CIBC Private Wealth Group LLC Sells 10,950 Shares of Masco Co. (NYSE:MAS)

CIBC Private Wealth Group LLC cut its position in Masco Co. (NYSE:MAS - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 393,337 shares of the construction company's stock after selling 10,950 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.18% of Masco worth $28,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Masco by 20.6% in the third quarter. Franklin Resources Inc. now owns 331,883 shares of the construction company's stock valued at $28,147,000 after acquiring an additional 56,626 shares during the period. Foster Victor Wealth Advisors LLC boosted its holdings in Masco by 6.6% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 219,120 shares of the construction company's stock valued at $17,135,000 after purchasing an additional 13,568 shares during the period. Versant Capital Management Inc boosted its holdings in Masco by 69.1% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the construction company's stock valued at $112,000 after purchasing an additional 631 shares during the period. Empower Advisory Group LLC increased its holdings in shares of Masco by 2.0% during the fourth quarter. Empower Advisory Group LLC now owns 1,016,079 shares of the construction company's stock worth $73,737,000 after purchasing an additional 20,129 shares during the period. Finally, Principal Securities Inc. raised its position in shares of Masco by 20.5% in the fourth quarter. Principal Securities Inc. now owns 11,337 shares of the construction company's stock valued at $823,000 after buying an additional 1,931 shares in the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Masco

In other news, CEO Keith J. Allman sold 21,723 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total value of $1,658,768.28. Following the completion of the sale, the chief executive officer now directly owns 60,267 shares in the company, valued at $4,601,988.12. This trade represents a 26.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Renee Straber sold 3,139 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total value of $225,317.42. Following the transaction, the vice president now directly owns 33,027 shares in the company, valued at approximately $2,370,678.06. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Masco Trading Down 9.9 %

Masco stock traded down $7.05 during mid-day trading on Thursday, hitting $64.01. 4,439,027 shares of the stock were exchanged, compared to its average volume of 1,662,477. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.94 and a beta of 1.24. Masco Co. has a 12 month low of $63.19 and a 12 month high of $86.70. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. The firm's fifty day simple moving average is $74.73 and its two-hundred day simple moving average is $77.73.

Masco (NYSE:MAS - Get Free Report) last announced its earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Analysts forecast that Masco Co. will post 4.34 EPS for the current year.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.24 annualized dividend and a dividend yield of 1.94%. This is a positive change from Masco's previous quarterly dividend of $0.29. Masco's payout ratio is currently 32.98%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank of Canada restated a "sector perform" rating and set a $74.00 price objective on shares of Masco in a research note on Wednesday, February 12th. Citigroup decreased their price target on Masco from $82.00 to $77.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group increased their price objective on shares of Masco from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Zelman & Associates upgraded shares of Masco to a "strong-buy" rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company reduced their price target on shares of Masco from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $85.30.

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.