MasterBrand, Inc. (NYSE:MBC) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 135.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 693,220 shares of the company's stock after purchasing an additional 398,303 shares during the period. JPMorgan Chase & Co. owned approximately 0.55% of MasterBrand worth $10,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of MasterBrand by 7.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 261,199 shares of the company's stock valued at $3,816,000 after purchasing an additional 18,117 shares during the period. Fox Run Management L.L.C. purchased a new position in MasterBrand in the 4th quarter valued at approximately $294,000. KLP Kapitalforvaltning AS purchased a new stake in shares of MasterBrand during the fourth quarter worth $409,000. AXQ Capital LP acquired a new stake in shares of MasterBrand in the fourth quarter valued at $244,000. Finally, American Century Companies Inc. raised its stake in shares of MasterBrand by 7.5% in the fourth quarter. American Century Companies Inc. now owns 315,622 shares of the company's stock valued at $4,611,000 after acquiring an additional 22,034 shares in the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Stock Performance

Shares of NYSE MBC traded up $0.24 during trading hours on Friday, reaching $11.63. The stock had a trading volume of 846,558 shares, compared to its average volume of 931,473. The firm has a 50-day moving average of $13.58 and a 200-day moving average of $15.72. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 11.99 and a beta of 1.70. MasterBrand, Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78.

MasterBrand (NYSE:MBC - Get Free Report) last announced 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 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 stock repurchase program on Monday, March 17th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other MasterBrand news, Director Juliana L. Chugg acquired 6,989 shares of the business's stock in a transaction on Monday, February 24th. The stock was purchased 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 $473,618.08. The trade was a 26.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Crisci bought 20,000 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the transaction, the director now directly owns 66,435 shares of the company's stock, valued at $935,404.80. This trade represents a 43.07 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research note on Monday. Loop Capital dropped their price target on shares of MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th.

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.