28,000 Shares in MasterBrand, Inc. (NYSE:MBC) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,000 shares of the company's stock, valued at approximately $409,000.

Several other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in MasterBrand by 150.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after purchasing an additional 1,549 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of 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 purchasing an additional 1,216 shares in the last quarter. KBC Group NV boosted its position in shares of MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company's stock valued at $85,000 after buying an additional 1,983 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings 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 last quarter. Finally, Proficio Capital Partners LLC bought a new stake in MasterBrand in the 4th quarter worth about $150,000. Institutional investors and hedge funds own 87.32% of the company's stock.

Insider Activity

In other news, Director Juliana L. Chugg acquired 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The stock was acquired 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 approximately $473,618.08. This trade represents a 26.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Crisci bought 20,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $14.08 per share, with a total value of $281,600.00. Following the completion of the transaction, the director now directly owns 66,435 shares of the company's stock, valued at approximately $935,404.80. The trade was a 43.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

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MasterBrand Stock Performance

MBC stock traded up $1.10 during midday trading on Wednesday, hitting $12.23. The company's stock had a trading volume of 1,212,767 shares, compared to its average volume of 919,757. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 12.61 and a beta of 1.70. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. The stock's 50-day moving average price is $14.21 and its 200 day moving average price is $15.97. MasterBrand, Inc. has a 1 year low of $10.84 and a 1 year high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.17). The company had revenue of $667.70 million during 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 declared that its board has authorized a stock repurchase program on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.