MasterBrand, Inc. (NYSE:MBC) Stock Holdings Lifted by Royce & Associates LP

Royce & Associates LP lifted its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 97.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 724,161 shares of the company’s stock after acquiring an additional 356,506 shares during the quarter. Royce & Associates LP’s holdings in MasterBrand were worth $10,580,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

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

Insider Activity

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

MasterBrand Stock Down 0.2 %

Shares of MasterBrand stock opened at $13.37 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. MasterBrand, Inc. has a 1 year low of $12.68 and a 1 year high of $20.67. The stock has a 50-day moving average price of $15.64 and a 200 day moving average price of $16.46. The company has a market cap of $1.71 billion, a P/E ratio of 13.78 and a beta of 1.77.

MasterBrand (NYSE:MBC) last posted 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 company had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its board has initiated a stock repurchase plan on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.