Contrarian Capital Management L.L.C. Invests $380,000 in MasterBrand, Inc. (NYSE:MBC)

Contrarian Capital Management L.L.C. bought a new position in MasterBrand, Inc. (NYSE:MBC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,000 shares of the company's stock, valued at approximately $380,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after buying an additional 1,549 shares during the period. Public Employees Retirement System of Ohio raised its position in MasterBrand by 52.4% in the 3rd 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. 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 period. Proficio Capital Partners LLC bought a new position in shares of MasterBrand during the fourth quarter valued at approximately $150,000. Finally, Cibc World Markets Corp purchased a new stake in MasterBrand in the fourth quarter worth $173,000. 87.32% of the stock is owned by institutional investors.

Insider Transactions at MasterBrand

In related news, Director Robert Crisci acquired 20,000 shares of MasterBrand stock in a transaction on Friday, February 28th. The stock was bought at an average cost 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 approximately $935,404.80. The trade was a 43.07 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Juliana L. Chugg bought 6,989 shares of the company's stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the transaction, the director now 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. Corporate insiders own 1.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MBC shares. Loop Capital lowered their target price on MasterBrand from $21.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th.

MasterBrand Stock Performance

MasterBrand stock traded up $0.19 during midday trading on Wednesday, hitting $11.58. 225,353 shares of the company were exchanged, compared to its average volume of 932,010. The business has a fifty day simple moving average of $13.26 and a two-hundred day simple moving average of $15.57. MasterBrand, Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $20.67. The firm has a market capitalization of $1.48 billion, a PE ratio of 11.94 and a beta of 1.70. 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 (NYSE:MBC - Get Free Report) last posted its 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 business had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand declared that its board has authorized a share repurchase program on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.