Mercer Global Advisors Inc. ADV Sells 2,407 Shares of MasterBrand, Inc. (NYSE:MBC)

Mercer Global Advisors Inc. ADV lessened its holdings in MasterBrand, Inc. (NYSE:MBC) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,235 shares of the company’s stock after selling 2,407 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in MasterBrand were worth $208,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its position in MasterBrand by 5.1% in the fourth quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock valued at $9,503,000 after acquiring an additional 31,714 shares during the last quarter. JPMorgan Chase & Co. grew its position in MasterBrand by 135.1% in the fourth quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company’s stock valued at $10,128,000 after acquiring an additional 398,303 shares during the last quarter. Susquehanna International Group LLP grew its position in MasterBrand by 307.1% in the fourth quarter. Susquehanna International Group LLP now owns 130,490 shares of the company’s stock valued at $1,906,000 after acquiring an additional 98,439 shares during the last quarter. Barclays PLC grew its position in MasterBrand by 262.4% in the third 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 during the last quarter. Finally, EMG Holdings L.P. bought a new position in MasterBrand in the fourth quarter valued at about $2,865,000. Institutional investors own 87.32% of the company’s stock.

MasterBrand Stock Performance

NYSE:MBC opened at $11.21 on Friday. The stock has a market cap of $1.42 billion, a P/E ratio of 11.55 and a beta of 1.74. 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 stock’s 50-day moving average is $12.18 and its 200-day moving average is $14.75. MasterBrand, Inc. has a 1-year low of $9.78 and a 1-year high of $20.67.

MasterBrand (NYSE:MBC) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). The firm had revenue of $660.30 million for the quarter, compared to the consensus estimate 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 has approved a share buyback program on Monday, March 17th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

MBC has been the topic of a number of recent analyst reports. Loop Capital decreased their target price on MasterBrand from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Zelman & Associates reiterated an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th.

Insider Transactions at MasterBrand

In related news, Director Juliana L. Chugg acquired 6,989 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now directly owns 33,424 shares in the company, valued at $473,618.08. The trade was a 26.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Crisci acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was 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 owns 66,435 shares of the company’s stock, 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. Company insiders own 1.38% of the company’s stock.

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.