Charles Schwab Investment Management Inc. Raises Stake in MasterBrand, Inc. (NYSE:MBC)

Charles Schwab Investment Management Inc. increased its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,403,980 shares of the company's stock after buying an additional 311,286 shares during the period. Charles Schwab Investment Management Inc. owned about 1.89% of MasterBrand worth $35,122,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MBC. CIBC Asset Management Inc raised its stake in shares of MasterBrand by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock valued at $188,000 after buying an additional 736 shares during the period. Quest Partners LLC raised its stake in MasterBrand by 33.3% in the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company's stock valued at $61,000 after acquiring an additional 821 shares during the period. PNC Financial Services Group Inc. lifted its holdings in MasterBrand by 1.2% during the third quarter. PNC Financial Services Group Inc. now owns 94,554 shares of the company's stock valued at $1,753,000 after purchasing an additional 1,107 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in MasterBrand by 52.4% during the third 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. Finally, TD Private Client Wealth LLC boosted its position 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 purchasing an additional 1,364 shares during the period. Institutional investors own 87.32% of the company's stock.

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MasterBrand Stock Performance

Shares of NYSE:MBC traded down $0.27 during midday trading on Thursday, reaching $13.79. 424,212 shares of the company traded hands, compared to its average volume of 855,905. 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 firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 14.26 and a beta of 1.77. MasterBrand, Inc. has a 12 month low of $12.68 and a 12 month high of $20.67. The firm's fifty day moving average price is $15.60 and its two-hundred day moving average price is $16.42.

MasterBrand (NYSE:MBC - Get Free Report) 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). The firm 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 announced that its Board of Directors has initiated a stock buyback program on Monday, March 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at MasterBrand

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

Wall Street Analyst Weigh In

Separately, Loop Capital cut their price objective on shares of MasterBrand from $21.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, February 19th.

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.