MasterBrand (NYSE:MBC) Hits New 1-Year Low – Here’s What Happened

Shares of MasterBrand, Inc. (NYSE:MBC) reached a new 52-week low on Thursday . The stock traded as low as $12.25 and last traded at $12.26, with a volume of 146133 shares. The stock had previously closed at $13.48.

Wall Street Analysts Forecast Growth

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 report on Wednesday, February 19th.

MasterBrand Trading Down 8.6 %

The firm’s 50 day moving average is $15.00 and its 200 day moving average is $16.25. The company has a market cap of $1.57 billion, a PE ratio of 12.71 and a beta of 1.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data 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 return on equity of 13.89% and a net margin of 4.66%. The company 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 initiated a stock buyback program on Monday, March 17th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at MasterBrand

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 price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the transaction, the director now owns 33,424 shares of the company’s stock, valued at $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Crisci bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $14.08 per share, with a total value of $281,600.00. Following the acquisition, the director now owns 66,435 shares of the company’s stock, valued at $935,404.80. This represents a 43.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in shares of MasterBrand by 150.7% in the fourth 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 in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of MasterBrand by 52.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock worth $66,000 after acquiring an additional 1,216 shares during the last quarter. KBC Group NV increased its position in 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 buying an additional 1,983 shares in the last quarter. TD Private Client Wealth LLC raised its stake in MasterBrand by 39.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock worth $89,000 after acquiring an additional 1,364 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of MasterBrand during the 4th quarter valued at $148,000. 87.32% of the stock is currently owned by institutional investors.

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.