Canada Pension Plan Investment Board Reduces Position in Masco Corp (MAS)

Canada Pension Plan Investment Board Reduces Position in Masco Corp (MAS)

Canada Pension Plan Investment Board lowered its position in shares of Masco Corp (NYSE:MAS) by 11.9% during the first quarter, Holdings Channel reports. The fund owned 498,353 shares of the construction company’s stock after selling 67,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.16% of Masco Corp worth $16,939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. NBW Capital LLC acquired a new position in Masco Corp during the third quarter worth about $3,210,000. First Midwest Bank Trust Division increased its position in Masco Corp by 57.4% in the third quarter. First Midwest Bank Trust Division now owns 73,632 shares of the construction company’s stock worth $2,526,000 after buying an additional 26,847 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its position in Masco Corp by 65.3% in the third quarter. Signature Estate & Investment Advisors LLC now owns 9,300 shares of the construction company’s stock worth $319,000 after buying an additional 3,674 shares during the last quarter. Winch Advisory Services LLC acquired a new position in Masco Corp during the third quarter worth about $296,000. Finally, Quantbot Technologies LP increased its position in Masco Corp by 44.1% in the third quarter. Quantbot Technologies LP now owns 20,240 shares of the construction company’s stock worth $694,000 after buying an additional 6,192 shares during the last quarter. Institutional investors own 88.65% of the company’s stock.

Shares of Masco Corp (NYSE:MAS) traded up 0.35% during trading on Friday, hitting $36.92. 1,480,437 shares of the stock traded hands. The firm has a market cap of $11.67 billion, a P/E ratio of 23.37 and a beta of 1.51. Masco Corp has a 52 week low of $29.11 and a 52 week high of $37.58. The company has a 50-day moving average of $34.63 and a 200-day moving average of $33.03.

Masco Corp (NYSE:MAS) last announced its quarterly earnings results on Tuesday, April 25th. The construction company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. Masco Corp had a return on equity of 1,293.51% and a net margin of 6.67%. The business earned $1.78 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. Masco Corp’s revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that Masco Corp will post $1.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Monday, April 17th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, April 12th. This represents a $0.40 annualized dividend and a yield of 1.08%. Masco Corp’s dividend payout ratio (DPR) is currently 27.21%.

A number of research firms have issued reports on MAS. Jefferies Group LLC restated a “buy” rating and set a $43.00 target price (up from $39.00) on shares of Masco Corp in a research report on Wednesday, April 26th. Deutsche Bank AG upped their target price on shares of Masco Corp from $31.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Zacks Investment Research upgraded shares of Masco Corp from a “sell” rating to a “hold” rating and set a $42.00 target price on the stock in a research report on Wednesday, April 26th. Royal Bank of Canada restated a “buy” rating on shares of Masco Corp in a research report on Wednesday, April 26th. Finally, Nomura began coverage on Masco Corp in a research note on Wednesday, April 12th. They issued a “buy” rating and a $39.00 price target for the company. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $39.20.

In related news, VP Christopher K. Kastner sold 5,463 shares of the company’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $33.80, for a total transaction of $184,649.40. Following the completion of the sale, the vice president now owns 35,524 shares in the company, valued at $1,200,711.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa A. Payne sold 1,949 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $33.89, for a total value of $66,051.61. Following the sale, the director now owns 61,346 shares of the company’s stock, valued at approximately $2,079,015.94. The disclosure for this sale can be found here. Insiders have sold 47,793 shares of company stock valued at $1,743,248 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

About Masco Corp

Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.

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