MasterBrand, Inc. (NYSE:MBC) Shares Acquired by Royce & Associates LP

Royce & Associates LP lifted its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 97.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 724,161 shares of the company’s stock after purchasing an additional 356,506 shares during the period. Royce & Associates LP owned about 0.57% of MasterBrand worth $10,580,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in MasterBrand by 150.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock worth $37,000 after buying an additional 1,549 shares during the last quarter. Quest Partners LLC lifted its stake in MasterBrand by 33.3% during the third quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock worth $61,000 after purchasing an additional 821 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in MasterBrand by 52.4% in the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock worth $66,000 after purchasing an additional 1,216 shares during the period. KBC Group NV increased its stake in MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after purchasing an additional 1,983 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of MasterBrand by 39.9% during the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock worth $89,000 after purchasing an additional 1,364 shares during the period. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MasterBrand

In related news, Director Juliana L. Chugg bought 6,989 shares of the stock in a transaction on Monday, February 24th. The shares were purchased at an average price of $14.17 per share, with a total value of $99,034.13. Following the purchase, the director now owns 33,424 shares in the company, valued at approximately $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Crisci purchased 20,000 shares of MasterBrand stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $14.08 per share, with a total value of $281,600.00. Following the completion of the purchase, the director now owns 66,435 shares in the company, valued at approximately $935,404.80. This trade represents a 43.07 % increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is owned by company insiders.

MasterBrand Stock Down 0.2 %

MBC stock opened at $13.37 on Tuesday. The stock has a market cap of $1.71 billion, a PE ratio of 13.78 and a beta of 1.77. The firm’s 50-day simple moving average is $15.64 and its 200 day simple moving average is $16.46. MasterBrand, Inc. has a fifty-two week low of $12.68 and a fifty-two week high of $20.67. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78.

MasterBrand (NYSE:MBC) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.17). The firm had revenue of $667.70 million during the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand declared that its board has initiated a share repurchase program on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Loop Capital dropped their price target on MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th.

About MasterBrand

MasterBrand, Inc engages in the manufacture and sale of residential cabinets in the United States and Canada. The company offers a range of residential cabinetry products for the kitchen, bathroom, and other parts of the home. It sells its products to remodeling and new construction markets through dealers, retailers, and builders.