HighTower Advisors LLC Grows Stock Position in MasterBrand, Inc. (NYSE:MBC)

HighTower Advisors LLC increased its holdings in MasterBrand, Inc. (NYSE:MBC) by 6.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 31,419 shares of the company’s stock after acquiring an additional 1,841 shares during the period. HighTower Advisors LLC’s holdings in MasterBrand were worth $459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MBC. CIBC Asset Management Inc grew its holdings in shares of MasterBrand by 6.1% during the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock worth $188,000 after purchasing an additional 736 shares during the period. Quest Partners LLC lifted its position in MasterBrand by 33.3% in the third quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock valued at $61,000 after buying an additional 821 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in MasterBrand by 52.4% in the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock valued at $66,000 after buying an additional 1,216 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in MasterBrand by 39.9% during the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock worth $89,000 after buying an additional 1,364 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock valued at $37,000 after acquiring an additional 1,549 shares during the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.

Analysts Set New Price Targets

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

MasterBrand Stock Down 3.2 %

NYSE:MBC opened at $13.08 on Monday. MasterBrand, Inc. has a 52 week low of $12.68 and a 52 week high of $20.67. The stock’s fifty day moving average is $15.24 and its two-hundred day moving average is $16.31. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.48 and a beta of 1.77. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78.

MasterBrand (NYSE:MBC) last posted its earnings results 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). 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 approved a share repurchase program on Monday, March 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at MasterBrand

In related news, Director Robert Crisci acquired 20,000 shares of MasterBrand stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the purchase, the director now owns 66,435 shares in the company, valued at approximately $935,404.80. The trade was a 43.07 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Juliana L. Chugg purchased 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The stock was bought at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the transaction, the director now directly owns 33,424 shares in the company, valued at $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.38% of the company’s stock.

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.