MasterBrand, Inc. (NYSE:MBC) Shares Acquired by Swiss National Bank

Swiss National Bank increased its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,000 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. Swiss National Bank’s holdings in MasterBrand were worth $3,652,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in MasterBrand in the 3rd quarter worth $872,000. Vestcor Inc increased its holdings in shares of MasterBrand by 329.0% in the 3rd quarter. Vestcor Inc now owns 40,815 shares of the company’s stock valued at $757,000 after acquiring an additional 31,300 shares during the last quarter. Empowered Funds LLC lifted its position in shares of MasterBrand by 5.1% in the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock worth $9,503,000 after buying an additional 31,714 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of MasterBrand by 18.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock valued at $38,799,000 after buying an additional 330,874 shares during the period. Finally, Barclays PLC raised its position in shares of MasterBrand by 262.4% during the 3rd quarter. Barclays PLC now owns 234,160 shares of the company’s stock worth $4,341,000 after purchasing an additional 169,550 shares during the period. Institutional investors and hedge funds own 87.32% of the company’s stock.

Insiders Place Their Bets

In related news, Director Juliana L. Chugg purchased 6,989 shares of the stock in a transaction dated Monday, February 24th. The shares were acquired at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. The trade was a 26.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Crisci purchased 20,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were 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 represents 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 company insiders.

Wall Street Analyst Weigh In

Separately, Loop Capital decreased their price objective on MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, February 19th.

MasterBrand Price Performance

Shares of MBC opened at $13.50 on Wednesday. MasterBrand, Inc. has a one year low of $12.68 and a one year high of $20.67. The stock’s fifty day moving average is $15.45 and its 200-day moving average is $16.36. 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 firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.92 and a beta of 1.77.

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

MasterBrand declared that its board has authorized a stock buyback plan on Monday, March 17th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

MasterBrand Company 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.