EMG Holdings L.P. Makes New $2.87 Million Investment in MasterBrand, Inc. (NYSE:MBC)

EMG Holdings L.P. bought a new position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 196,082 shares of the company's stock, valued at approximately $2,865,000. MasterBrand makes up 1.7% of EMG Holdings L.P.'s investment portfolio, making the stock its 10th biggest holding. EMG Holdings L.P. owned 0.15% of MasterBrand as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new stake in shares of MasterBrand in the third quarter valued at approximately $470,000. Charles Schwab Investment Management Inc. boosted its stake in shares of MasterBrand by 18.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company's stock worth $38,799,000 after buying an additional 330,874 shares during the last quarter. Citigroup Inc. increased its position in shares of MasterBrand by 59.0% in the third quarter. Citigroup Inc. now owns 225,844 shares of the company's stock valued at $4,187,000 after acquiring an additional 83,797 shares during the last quarter. Bank of Montreal Can raised its holdings in MasterBrand by 1,087.5% during the third quarter. Bank of Montreal Can now owns 246,855 shares of the company's stock worth $4,527,000 after acquiring an additional 226,068 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in MasterBrand by 58.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,425,966 shares of the company's stock valued at $26,437,000 after purchasing an additional 528,537 shares in the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

MasterBrand Stock Performance

NYSE:MBC traded up $0.18 during mid-day trading on Friday, hitting $12.48. The stock had a trading volume of 1,154,403 shares, compared to its average volume of 913,186. The company's 50 day simple moving average is $14.80 and its 200 day simple moving average is $16.18. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 12.87 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, Inc. has a twelve month low of $11.64 and a twelve month high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly 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 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 of Directors has initiated a stock buyback plan on Monday, March 17th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Insider Transactions at MasterBrand

In related news, Director Juliana L. Chugg purchased 6,989 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Crisci acquired 20,000 shares of MasterBrand stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the purchase, the director now directly owns 66,435 shares of the company's stock, valued at approximately $935,404.80. This represents a 43.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

MasterBrand Company 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.