MasterBrand (NYSE:MBC) Trading Down 2.4% - Here's Why

Shares of MasterBrand, Inc. (NYSE:MBC - Get Free Report) traded down 2.4% during trading on Monday . The stock traded as low as $11.86 and last traded at $11.94. 152,762 shares traded hands during trading, a decline of 83% from the average session volume of 922,471 shares. The stock had previously closed at $12.23.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Loop Capital cut their target price 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. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th.

MasterBrand Stock Performance

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 company's fifty day moving average price is $13.48 and its 200 day moving average price is $15.67. The company has a market cap of $1.48 billion, a PE ratio of 11.99 and a beta of 1.70.

MasterBrand (NYSE:MBC - Get Free Report) last posted its earnings results 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 firm had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million.

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

Insider Activity

In related news, Director Robert Crisci purchased 20,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $14.08 per share, with a total value of $281,600.00. Following the purchase, the director now directly owns 66,435 shares in the company, valued at approximately $935,404.80. This represents a 43.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Juliana L. Chugg purchased 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 transaction, the director now directly 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 disclosure for this purchase can be found here. 1.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MBC. Empowered Funds LLC boosted its position in MasterBrand by 5.1% during the fourth quarter. Empowered Funds LLC now owns 650,450 shares of the company's stock valued at $9,503,000 after buying an additional 31,714 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MasterBrand by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company's stock valued at $10,128,000 after purchasing an additional 398,303 shares during the period. Barclays PLC increased its stake in shares of MasterBrand by 262.4% in the third quarter. Barclays PLC now owns 234,160 shares of the company's stock worth $4,341,000 after buying an additional 169,550 shares during the period. EMG Holdings L.P. bought a new stake in MasterBrand during the 4th quarter valued at $2,865,000. Finally, Principal Financial Group Inc. grew its holdings in MasterBrand by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 685,752 shares of the company's stock worth $10,019,000 after acquiring an additional 25,222 shares during the last quarter. 87.32% of the stock is owned by hedge funds and other institutional investors.

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.