Mawer Investment Management Ltd. Purchases 98,966 Shares of MasterBrand, Inc. (NYSE:MBC)

Mawer Investment Management Ltd. increased its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 793,149 shares of the company's stock after acquiring an additional 98,966 shares during the period. Mawer Investment Management Ltd. owned about 0.62% of MasterBrand worth $11,588,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Quest Partners LLC lifted its holdings in shares of MasterBrand by 33.3% in the third quarter. Quest Partners LLC now owns 3,285 shares of the company's stock valued at $61,000 after purchasing an additional 821 shares in the last quarter. Intech Investment Management LLC acquired a new stake in MasterBrand in the 3rd quarter valued at approximately $470,000. Charles Schwab Investment Management Inc. lifted its stake in MasterBrand by 18.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company's stock valued at $38,799,000 after acquiring an additional 330,874 shares in the last quarter. Citigroup Inc. grew its stake in shares of MasterBrand by 59.0% during the 3rd quarter. Citigroup Inc. now owns 225,844 shares of the company's stock worth $4,187,000 after acquiring an additional 83,797 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of MasterBrand by 1,087.5% in the third quarter. Bank of Montreal Can now owns 246,855 shares of the company's stock valued at $4,527,000 after purchasing an additional 226,068 shares during the last quarter. 87.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Loop Capital reduced their target price on shares of MasterBrand from $21.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, February 19th.

Insider Transactions at MasterBrand

In other MasterBrand news, Director Juliana L. Chugg bought 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The shares were purchased at an average price of $14.17 per share, with a total value of $99,034.13. Following the acquisition, the director now owns 33,424 shares in the company, valued at $473,618.08. This trade represents a 26.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Crisci acquired 20,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $14.08 per share, with a total value of $281,600.00. Following the completion of the transaction, the director now owns 66,435 shares in the company, valued at $935,404.80. The trade was 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 currently owned by corporate insiders.

MasterBrand Stock Performance

Shares of MBC traded down $0.99 during midday trading on Thursday, reaching $12.49. The stock had a trading volume of 273,801 shares, compared to its average volume of 907,076. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The firm has a 50 day simple moving average of $15.00 and a 200-day simple moving average of $16.25. The firm has a market cap of $1.59 billion, a PE ratio of 12.88 and a beta of 1.77. MasterBrand, Inc. has a one year low of $12.25 and a one year high of $20.67.

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 analysts' consensus estimates of $0.38 by ($0.17). The business had revenue of $667.70 million during the quarter, compared to analyst estimates 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 of Directors has initiated a stock repurchase plan on Monday, March 17th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.