Foundry Partners LLC Increases Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Foundry Partners LLC raised its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 17.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 315,002 shares of the company's stock after purchasing an additional 47,898 shares during the period. Foundry Partners LLC owned 0.25% of MasterBrand worth $4,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Boston Partners increased its position in MasterBrand by 82.2% during the fourth quarter. Boston Partners now owns 5,237,123 shares of the company's stock worth $76,558,000 after purchasing an additional 2,363,308 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of MasterBrand by 3.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company's stock worth $74,264,000 after buying an additional 156,993 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MasterBrand by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company's stock worth $63,053,000 after buying an additional 135,693 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in MasterBrand by 0.3% in the fourth quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company's stock valued at $41,608,000 after acquiring an additional 9,169 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in MasterBrand by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company's stock worth $35,122,000 after acquiring an additional 311,286 shares during the period. Institutional investors and hedge funds own 87.32% of the company's stock.

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Insiders Place Their Bets

In other news, Director Juliana L. Chugg purchased 6,989 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 33,424 shares of the company's stock, valued at $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Crisci purchased 20,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $14.08 per share, with a total value of $281,600.00. Following the acquisition, the director now directly owns 66,435 shares in the company, 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. 1.38% of the stock is owned by company insiders.

MasterBrand Trading Down 4.6 %

MBC stock traded down $0.56 during mid-day trading on Thursday, hitting $11.65. 396,426 shares of the company were exchanged, compared to its average volume of 917,795. MasterBrand, Inc. has a 12-month low of $10.84 and a 12-month high of $20.67. The firm has a market capitalization of $1.49 billion, a P/E ratio of 12.09 and a beta of 1.70. The business has a fifty day simple moving average of $14.21 and a 200-day simple moving average of $15.97. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78.

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

MasterBrand declared that its Board of Directors has approved a share repurchase program on Monday, March 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Loop Capital reduced their target price on MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a research report 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.