MasterBrand (NYSE:MBC) Sets New 12-Month Low – Here’s Why

Shares of MasterBrand, Inc. (NYSE:MBC) reached a new 52-week low during trading on Thursday . The stock traded as low as $12.25 and last traded at $12.26, with a volume of 146133 shares trading hands. The stock had previously closed at $13.48.

Analyst Ratings Changes

Separately, Loop Capital lowered their price target on shares of MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th.

MasterBrand Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average price is $15.00 and its 200 day moving average price is $16.25. The company has a market capitalization of $1.57 billion, a P/E ratio of 12.71 and a beta of 1.77.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). The company had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 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 initiated a share repurchase plan on Monday, March 17th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other MasterBrand news, Director Juliana L. Chugg bought 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the acquisition, the director now directly owns 33,424 shares of the company’s stock, valued at $473,618.08. The trade was a 26.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Crisci acquired 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 completion of the acquisition, the director now directly 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. Corporate insiders own 1.38% of the company’s stock.

Hedge Funds Weigh In On MasterBrand

A number of hedge funds and other institutional investors have recently made changes to their positions in MBC. Wealth Enhancement Advisory Services LLC lifted its stake in shares of MasterBrand by 69.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,126 shares of the company’s stock valued at $250,000 after purchasing an additional 6,990 shares during the period. Public Employees Retirement System of Ohio raised its holdings in MasterBrand by 36.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company’s stock worth $70,000 after buying an additional 1,286 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in MasterBrand by 2.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,415 shares of the company’s stock valued at $21,293,000 after acquiring an additional 31,449 shares in the last quarter. Squarepoint Ops LLC bought a new stake in MasterBrand during the fourth quarter worth $602,000. Finally, State of Wyoming increased its stake in MasterBrand by 547.9% in the 4th quarter. State of Wyoming now owns 21,658 shares of the company’s stock valued at $316,000 after buying an additional 18,315 shares during the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

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.