MasterBrand, Inc. (NYSE:MBC) Shares Bought by Foundry Partners LLC

Foundry Partners LLC increased its stake in MasterBrand, Inc. (NYSE:MBC) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 315,002 shares of the company’s stock after buying an additional 47,898 shares during the period. Foundry Partners LLC’s holdings in MasterBrand were worth $4,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Centiva Capital LP purchased a new position in MasterBrand in the 3rd quarter worth about $391,000. HighTower Advisors LLC increased its position in shares of MasterBrand by 7.6% in the third quarter. HighTower Advisors LLC now owns 29,578 shares of the company’s stock worth $543,000 after acquiring an additional 2,086 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of MasterBrand during the third quarter valued at approximately $252,000. Y Intercept Hong Kong Ltd lifted its position in shares of MasterBrand by 211.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 35,480 shares of the company’s stock valued at $658,000 after acquiring an additional 24,091 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in MasterBrand by 52.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock worth $66,000 after purchasing an additional 1,216 shares during the period. 87.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Crisci bought 20,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $14.08 per share, for a total transaction 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 $935,404.80. This trade represents a 43.07 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Juliana L. Chugg purchased 6,989 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. This represents a 26.44 % 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.

Analyst Ratings Changes

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

MasterBrand Trading Up 1.5 %

Shares of NYSE MBC opened at $12.48 on Friday. The firm has a market capitalization of $1.59 billion, a PE ratio of 12.87 and a beta of 1.77. MasterBrand, Inc. has a one year low of $11.64 and a one year high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $14.80 and a two-hundred day moving average price of $16.19.

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

MasterBrand announced that its board has approved a stock buyback program on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is 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.