MasterBrand, Inc. (NYSE:MBC) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,083,041 shares of the company's stock after acquiring an additional 156,993 shares during the quarter. Thrivent Financial for Lutherans owned about 4.00% of MasterBrand worth $74,264,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MasterBrand in the third quarter valued at $872,000. Foundry Partners LLC bought a new position in shares of MasterBrand during the third quarter worth about $4,952,000. Vestcor Inc grew its stake in MasterBrand by 329.0% in the third quarter. Vestcor Inc now owns 40,815 shares of the company's stock worth $757,000 after purchasing an additional 31,300 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in MasterBrand in the third quarter valued at about $1,669,000. Finally, Empowered Funds LLC raised its stake 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 in the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

MasterBrand Stock Performance

Shares of NYSE:MBC traded down $0.44 on Friday, reaching $13.37. 3,185,279 shares of the company's stock were exchanged, compared to its average volume of 864,938. The business's 50-day moving average is $15.53 and its two-hundred day moving average is $16.39. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. MasterBrand, Inc. has a fifty-two week low of $12.68 and a fifty-two week high of $20.67. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.78 and a beta of 1.77.

Remove Ads

MasterBrand (NYSE:MBC - Get Free Report) last released 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 return on equity of 13.89% and a net margin of 4.66%. The business had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million.

MasterBrand announced that its Board of Directors has authorized a stock repurchase plan on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Robert Crisci bought 20,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the transaction, the director now owns 66,435 shares in the company, valued at approximately $935,404.80. This trade represents a 43.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Juliana L. Chugg purchased 6,989 shares of the business's stock in a transaction dated Monday, February 24th. The shares were acquired at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, the director now owns 33,424 shares of the company's stock, valued at approximately $473,618.08. The trade was a 26.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.38% of the company's stock.

Wall Street Analyst Weigh In

Separately, Loop Capital decreased 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.