Price T Rowe Associates Inc. MD Has $1.43 Million Stock Position in MasterBrand, Inc. (NYSE:MBC)

Price T Rowe Associates Inc. MD boosted its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,072 shares of the company’s stock after acquiring an additional 9,426 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.08% of MasterBrand worth $1,434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of MasterBrand by 5.1% during the fourth quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock worth $9,503,000 after purchasing an additional 31,714 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MasterBrand by 135.1% during the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company’s stock valued at $10,128,000 after buying an additional 398,303 shares during the period. Barclays PLC grew its holdings in shares of MasterBrand by 262.4% during the 3rd quarter. Barclays PLC now owns 234,160 shares of the company’s stock valued at $4,341,000 after acquiring an additional 169,550 shares in the last quarter. EMG Holdings L.P. acquired a new position in shares of MasterBrand in the fourth quarter worth $2,865,000. Finally, Principal Financial Group Inc. raised its holdings in shares of MasterBrand by 3.8% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Insider Activity

In other MasterBrand news, Director Juliana L. Chugg acquired 6,989 shares of the company’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 completion of the purchase, the director now owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. This trade represents a 26.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Crisci acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost 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. The trade was a 43.07 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company’s stock.

MasterBrand Stock Up 2.8 %

MBC stock opened at $10.38 on Friday. The firm has a market cap of $1.32 billion, a PE ratio of 10.70 and a beta of 1.74. MasterBrand, Inc. has a 1 year low of $10.07 and a 1 year high of $20.67. The company has a fifty day simple moving average of $12.50 and a 200 day simple moving average of $15.05. 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) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). The company had revenue of $660.30 million during the quarter, compared to analyst estimates of $663.95 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand declared that its Board of Directors has approved a share repurchase program on Monday, March 17th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Zelman & Associates reaffirmed an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital dropped their price objective on MasterBrand from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday.

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.