CNB Bank Decreases Stock Position in Masco Corp (NYSE:MAS)

CNB Bank cut its holdings in Masco Corp (NYSE:MAS) by 31.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,266 shares of the construction company’s stock after selling 3,297 shares during the period. CNB Bank’s holdings in Masco were worth $303,000 as of its most recent SEC filing.

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Several other institutional investors have also added to or reduced their stakes in MAS. Rational Advisors LLC boosted its position in shares of Masco by 111.6% in the 2nd quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock worth $26,000 after buying an additional 347 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of Masco by 94.5% in the 2nd quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock worth $27,000 after buying an additional 343 shares in the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of Masco in the 2nd quarter worth about $30,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Masco in the 2nd quarter worth about $30,000. Finally, Usca Ria LLC purchased a new stake in shares of Masco in the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 91.40% of the company’s stock.

In other news, CFO John G. Sznewajs sold 85,473 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total transaction of $3,494,136.24. Following the completion of the transaction, the chief financial officer now owns 318,403 shares of the company’s stock, valued at approximately $13,016,314.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard A. O’reagan sold 11,125 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $45.85, for a total transaction of $510,081.25. Following the transaction, the insider now directly owns 43,278 shares of the company’s stock, valued at approximately $1,984,296.30. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Shares of MAS stock opened at $46.30 on Friday. The firm has a 50-day moving average price of $43.39 and a 200 day moving average price of $40.14. Masco Corp has a twelve month low of $27.03 and a twelve month high of $46.95. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.49 and a beta of 1.46. The company has a current ratio of 1.46, a quick ratio of 0.98 and a debt-to-equity ratio of 120.48.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, October 30th. The construction company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.01). Masco had a net margin of 8.27% and a return on equity of 1,500.49%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Masco Corp will post 2.54 earnings per share for the current year.

Masco declared that its board has approved a share buyback plan on Tuesday, September 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 16.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, October 11th will be paid a $0.135 dividend. This is an increase from Masco’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.54 annualized dividend and a yield of 1.17%. Masco’s payout ratio is presently 21.60%.

Several research firms recently commented on MAS. TheStreet upgraded shares of Masco from a “c+” rating to a “b-” rating in a research report on Tuesday, October 22nd. Robert W. Baird decreased their price objective on shares of Masco from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Buckingham Research lowered shares of Masco from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $49.00 to $46.00 in a research report on Wednesday, September 18th. Zelman & Associates lowered shares of Masco from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. They noted that the move was a valuation call. Finally, SunTrust Banks cut their target price on shares of Masco from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $46.75.

Masco 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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