Boston Partners Grows Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Boston Partners raised its position in shares of MasterBrand, Inc. (NYSE:MBC) by 82.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,237,123 shares of the company’s stock after buying an additional 2,363,308 shares during the period. Boston Partners owned about 4.12% of MasterBrand worth $76,558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc boosted its position in shares of MasterBrand by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock worth $188,000 after buying an additional 736 shares during the period. Quest Partners LLC raised its stake 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 acquiring an additional 821 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of MasterBrand by 1.2% in the third quarter. PNC Financial Services Group Inc. now owns 94,554 shares of the company’s stock valued at $1,753,000 after acquiring an additional 1,107 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of MasterBrand by 52.4% in 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 in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of MasterBrand by 39.9% in the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock valued at $89,000 after acquiring an additional 1,364 shares in the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MasterBrand

In other MasterBrand news, Director Robert Crisci purchased 20,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the completion of 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Juliana L. Chugg purchased 6,989 shares of the business’s stock in a transaction on Monday, February 24th. The stock was acquired at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the purchase, the director now owns 33,424 shares of the company’s stock, valued at $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 insiders.

MasterBrand Stock Up 2.0 %

Shares of NYSE MBC opened at $14.05 on Thursday. The stock has a market cap of $1.79 billion, a P/E ratio of 14.49 and a beta of 1.77. 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, Inc. has a 12-month low of $12.68 and a 12-month high of $20.67. The business’s fifty day simple moving average is $15.60 and its 200-day simple moving average is $16.42.

MasterBrand (NYSE:MBC) last announced 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). MasterBrand had a net margin of 4.66% and a return on equity of 13.89%. The company had revenue of $667.70 million during the quarter, compared to analyst estimates of $722.85 million.

MasterBrand announced that its board has authorized a share buyback plan on Monday, March 17th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, 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 note on Wednesday, February 19th.

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.