Quantbot Technologies LP Acquires Shares of 35,221 MasterBrand, Inc. (NYSE:MBC)

Quantbot Technologies LP bought a new position in shares of MasterBrand, Inc. (NYSE:MBC) during the 4th quarter, HoldingsChannel reports. The fund bought 35,221 shares of the company’s stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boston Partners grew its position in MasterBrand by 82.2% in the fourth quarter. Boston Partners now owns 5,237,123 shares of the company’s stock worth $76,558,000 after acquiring an additional 2,363,308 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of MasterBrand by 3.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company’s stock valued at $74,264,000 after purchasing an additional 156,993 shares in the last quarter. Geode Capital Management LLC increased its position in shares of MasterBrand by 4.2% during the third quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company’s stock worth $63,053,000 after acquiring an additional 135,693 shares during the period. Pzena Investment Management LLC increased its holdings in MasterBrand by 0.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company’s stock worth $41,608,000 after purchasing an additional 9,169 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in MasterBrand by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company’s stock valued at $35,122,000 after acquiring an additional 311,286 shares in the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at MasterBrand

In other MasterBrand news, Director Robert Crisci acquired 20,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the transaction, the director now owns 66,435 shares of the company’s stock, valued at $935,404.80. The trade was a 43.07 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Juliana L. Chugg acquired 6,989 shares of MasterBrand stock in a transaction that occurred on Monday, February 24th. The stock was bought at an average price of $14.17 per share, with a total value of $99,034.13. Following the purchase, the director now directly owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. This trade represents a 26.44 % 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.

MasterBrand Stock Down 0.2 %

MBC opened at $13.51 on Friday. The business’s 50-day simple moving average is $15.32 and its 200-day simple moving average is $16.32. The stock has a market capitalization of $1.72 billion, a P/E ratio of 13.93 and a beta of 1.77. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. MasterBrand, Inc. has a one year low of $12.68 and a one year high of $20.67.

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

MasterBrand announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 17th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About MasterBrand

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.