Hancock Whitney Corp Makes New $330,000 Investment in MasterBrand, Inc. (NYSE:MBC)

Hancock Whitney Corp purchased a new stake in MasterBrand, Inc. (NYSE:MBC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,619 shares of the company's stock, valued at approximately $330,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MBC. Boston Partners boosted its holdings in MasterBrand by 82.2% in the fourth quarter. Boston Partners now owns 5,237,123 shares of the company's stock valued at $76,558,000 after acquiring an additional 2,363,308 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of MasterBrand by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company's stock worth $10,128,000 after buying an additional 398,303 shares during the period. Royce & Associates LP raised its stake 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. Charles Schwab Investment Management Inc. raised its stake in MasterBrand by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company's stock worth $35,122,000 after buying an additional 311,286 shares during the last quarter. Finally, Norges Bank acquired a new position in MasterBrand in the fourth quarter valued at $3,433,000. Institutional investors and hedge funds own 87.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MBC. Loop Capital decreased their price target 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 reiterated an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th.

Insider Activity

In other MasterBrand news, Director Juliana L. Chugg acquired 6,989 shares of the company's stock in a transaction on Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Crisci bought 20,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were acquired 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 owns 66,435 shares of the company's stock, valued at $935,404.80. This represents a 43.07 % 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.

MasterBrand Price Performance

Shares of NYSE MBC opened at $11.85 on Friday. 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 cap of $1.51 billion, a PE ratio of 12.22 and a beta of 1.70. The company's fifty day simple moving average is $12.97 and its 200 day simple moving average is $15.45. MasterBrand, Inc. has a 12-month low of $10.84 and a 12-month high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.17). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million.

MasterBrand announced that its Board of Directors has approved a share repurchase program on Monday, March 17th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board 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.

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