MasterBrand (NYSE:MBC) Hits New 1-Year Low - What's Next?

MasterBrand, Inc. (NYSE:MBC - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $10.95 and last traded at $11.15, with a volume of 1384951 shares traded. The stock had previously closed at $11.82.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a report on Monday. Loop Capital reduced their price objective 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 Stock Down 2.6 %

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 stock has a market cap of $1.52 billion, a price-to-earnings ratio of 12.28 and a beta of 1.70. The business's fifty day moving average is $14.01 and its two-hundred day moving average is $15.87.

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 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 return on equity of 13.89% and a net margin of 4.66%.

Remove Ads

MasterBrand announced that its Board of Directors has authorized a share buyback program on Monday, March 17th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

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

Institutional Trading of MasterBrand

Hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in shares of MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after buying an additional 1,549 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of MasterBrand by 52.4% during the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company's stock valued at $66,000 after acquiring an additional 1,216 shares during the period. TD Private Client Wealth LLC raised its holdings in MasterBrand by 39.9% during the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company's stock worth $89,000 after purchasing an additional 1,364 shares in the last quarter. KBC Group NV lifted its position in MasterBrand by 52.0% in the fourth quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after purchasing an additional 1,983 shares during the period. Finally, Caxton Associates LP bought a new position in MasterBrand during the 4th quarter valued at $148,000. 87.32% of the stock is owned by institutional investors.

About MasterBrand

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.