Proficio Capital Partners LLC Invests $150,000 in MasterBrand, Inc. (NYSE:MBC)

Proficio Capital Partners LLC bought a new stake in shares of MasterBrand, Inc. (NYSE:MBC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,271 shares of the company’s stock, valued at approximately $150,000.

Several other institutional investors also recently bought and sold shares of the company. Vestcor Inc increased its position in shares of MasterBrand by 329.0% during the third quarter. Vestcor Inc now owns 40,815 shares of the company’s stock worth $757,000 after purchasing an additional 31,300 shares in the last quarter. Empowered Funds LLC increased its position in MasterBrand by 5.1% during the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock valued at $9,503,000 after buying an additional 31,714 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in MasterBrand by 18.8% in the third 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 last quarter. Barclays PLC boosted its holdings in MasterBrand by 262.4% in the third quarter. Barclays PLC now owns 234,160 shares of the company’s stock worth $4,341,000 after acquiring an additional 169,550 shares in the last quarter. Finally, Atom Investors LP purchased a new stake in shares of MasterBrand during the third quarter worth about $600,000. 87.32% of the stock is currently owned by institutional investors and hedge funds.

MasterBrand Trading Down 3.2 %

NYSE:MBC opened at $13.08 on Friday. The company has a market capitalization of $1.67 billion, a P/E ratio of 13.48 and a beta of 1.77. 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 12 month low of $12.68 and a 12 month high of $20.67. The firm has a fifty day simple moving average of $15.24 and a 200-day simple moving average of $16.31.

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

MasterBrand declared that its Board of Directors has initiated a share buyback plan on Monday, March 17th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other MasterBrand news, Director Juliana L. Chugg purchased 6,989 shares of the stock in a transaction on Monday, February 24th. The shares were bought at an average cost of $14.17 per share, with a total value of $99,034.13. Following the completion of the acquisition, the director now owns 33,424 shares in the company, valued at $473,618.08. This trade represents a 26.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Crisci purchased 20,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the transaction, the director now directly owns 66,435 shares in the company, valued at $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 corporate insiders.

Analyst Ratings Changes

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

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.