Boston Partners Grows Stake in MasterBrand, Inc. (NYSE:MBC)

Boston Partners increased its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 82.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,237,123 shares of the company's stock after acquiring an additional 2,363,308 shares during the quarter. Boston Partners owned approximately 4.12% of MasterBrand worth $76,558,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in MasterBrand by 3.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company's stock worth $74,264,000 after acquiring an additional 156,993 shares in the last quarter. Counterpoint Mutual Funds LLC lifted its holdings in shares of MasterBrand by 63.9% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 25,333 shares of the company's stock worth $370,000 after purchasing an additional 9,881 shares in the last quarter. Cibc World Markets Corp acquired a new stake in MasterBrand in the 4th quarter valued at $173,000. Royce & Associates LP raised its holdings in MasterBrand by 97.0% during the fourth quarter. Royce & Associates LP now owns 724,161 shares of the company's stock worth $10,580,000 after buying an additional 356,506 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of MasterBrand by 0.8% during the fourth quarter. Swiss National Bank now owns 250,000 shares of the company's stock valued at $3,652,000 after buying an additional 1,900 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Separately, Loop Capital lowered their target price 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.

Insider Activity at MasterBrand

In other news, Director Robert Crisci acquired 20,000 shares of the firm'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 purchase, the director now owns 66,435 shares in the company, valued at approximately $935,404.80. This represents a 43.07 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Juliana L. Chugg bought 6,989 shares of the business's stock in a transaction dated Monday, February 24th. The stock was acquired at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the purchase, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. The trade was 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 owned by insiders.

MasterBrand Stock Up 2.9 %

Shares of MasterBrand stock traded up $0.39 on Monday, hitting $13.74. The company had a trading volume of 767,333 shares, compared to its average volume of 864,548. MasterBrand, Inc. has a 1 year low of $12.68 and a 1 year high of $20.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The stock has a 50 day moving average of $15.53 and a 200-day moving average of $16.40. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 14.16 and a beta of 1.77.

MasterBrand (NYSE:MBC - Get Free Report) last released its quarterly earnings results 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 during 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 share buyback program on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is 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.