Royce & Associates LP Boosts Stock Position in MasterBrand, Inc. (NYSE:MBC)

Royce & Associates LP grew its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 97.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 724,161 shares of the company's stock after purchasing an additional 356,506 shares during the period. Royce & Associates LP owned about 0.57% of MasterBrand worth $10,580,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in MasterBrand by 58.9% during 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 worth $26,437,000 after buying an additional 528,537 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in MasterBrand by 11.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company's stock worth $91,329,000 after acquiring an additional 518,443 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of MasterBrand by 18.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company's stock worth $38,799,000 after acquiring an additional 330,874 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of MasterBrand in the third quarter valued at about $4,952,000. Finally, Raymond James Financial Inc. bought a new position in shares of MasterBrand during the fourth quarter valued at about $3,364,000. 87.32% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, Director Robert Crisci bought 20,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average cost 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 in the company, valued at $935,404.80. This represents a 43.07 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Juliana L. Chugg purchased 6,989 shares of the company's stock in a transaction dated Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the transaction, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by insiders.

MasterBrand Stock Performance

Shares of NYSE MBC traded down $0.44 during mid-day trading on Friday, reaching $13.37. 3,185,279 shares of the company's stock were exchanged, compared to its average volume of 866,027. The firm has a 50-day moving average price of $15.57 and a two-hundred day moving average price of $16.41. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.78 and a beta of 1.77. MasterBrand, Inc. has a 52 week low of $12.68 and a 52 week high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $722.85 million.

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

Wall Street Analysts Forecast Growth

Separately, Loop Capital reduced their price objective on shares of MasterBrand from $21.00 to $19.00 and set a "buy" rating for the company in a research report 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.