Cullen Capital Management LLC Buys 19,863 Shares of MasterBrand, Inc. (NYSE:MBC)

Cullen Capital Management LLC increased its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 46.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,348 shares of the company’s stock after buying an additional 19,863 shares during the quarter. Cullen Capital Management LLC’s holdings in MasterBrand were worth $911,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Centiva Capital LP bought a new position in shares of MasterBrand during the third quarter valued at $391,000. HighTower Advisors LLC increased its position in shares of MasterBrand by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 29,578 shares of the company’s stock worth $543,000 after purchasing an additional 2,086 shares in the last quarter. EP Wealth Advisors LLC bought a new position in MasterBrand during the 3rd quarter valued at about $252,000. Y Intercept Hong Kong Ltd boosted its position in MasterBrand by 211.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 35,480 shares of the company’s stock valued at $658,000 after buying an additional 24,091 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in MasterBrand by 52.4% during 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 last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Loop Capital cut their target price on shares of MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th.

Insiders Place Their Bets

In other news, Director Juliana L. Chugg acquired 6,989 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Crisci bought 20,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased 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 directly 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. Insiders own 1.38% of the company’s stock.

MasterBrand Trading Up 1.5 %

Shares of MBC opened at $12.48 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 12.87 and a beta of 1.70. The stock has a fifty day moving average price of $14.80 and a two-hundred day moving average price of $16.18. MasterBrand, Inc. has a 52-week low of $11.64 and a 52-week high of $20.67.

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

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

MasterBrand Profile

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.