Quantbot Technologies LP Purchases New Stake in MasterBrand, Inc. (NYSE:MBC)

Quantbot Technologies LP bought a new position in MasterBrand, Inc. (NYSE:MBC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,221 shares of the company's stock, valued at approximately $515,000.

Several other large investors also recently made changes to their positions in MBC. Boston Partners lifted its holdings in MasterBrand by 82.2% in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MasterBrand by 58.9% during the 3rd 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. Royce & Associates LP lifted its stake in shares of MasterBrand by 97.0% in the 4th quarter. Royce & Associates LP now owns 724,161 shares of the company's stock worth $10,580,000 after acquiring an additional 356,506 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of MasterBrand by 18.8% in the third 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. Finally, Raymond James Financial Inc. acquired a new position in shares of MasterBrand during the fourth quarter valued at approximately $3,364,000. Institutional investors and hedge funds own 87.32% of the company's stock.

Insiders Place Their Bets

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

MasterBrand Price Performance

MBC stock traded down $0.08 during trading hours on Tuesday, hitting $12.99. 617,585 shares of the stock traded hands, compared to its average volume of 910,677. The stock has a 50-day simple moving average of $15.07 and a 200 day simple moving average of $16.27. The company has a market cap of $1.66 billion, a P/E ratio of 13.39 and a beta of 1.77. MasterBrand, Inc. has a one year low of $12.68 and a one year high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78.

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

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

Wall Street Analyst Weigh In

Separately, Loop Capital cut their target price on 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.