Thrivent Financial for Lutherans Boosts Stake in MasterBrand, Inc. (NYSE:MBC)

Thrivent Financial for Lutherans grew its position in shares of MasterBrand, Inc. (NYSE:MBC) by 3.2% during the fourth quarter, Holdings Channel reports. The fund owned 5,083,041 shares of the company’s stock after purchasing an additional 156,993 shares during the period. Thrivent Financial for Lutherans’ holdings in MasterBrand were worth $74,264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MBC. Smartleaf Asset Management LLC grew its stake in shares of MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock worth $37,000 after buying an additional 1,549 shares during the last quarter. Quest Partners LLC grew its stake in shares of MasterBrand by 33.3% in the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock worth $61,000 after buying an additional 821 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of MasterBrand by 52.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock worth $66,000 after buying an additional 1,216 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of MasterBrand by 39.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock worth $89,000 after buying an additional 1,364 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of MasterBrand by 52.0% in the 4th quarter. KBC Group NV now owns 5,800 shares of the company’s stock worth $85,000 after buying an additional 1,983 shares during the last quarter. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Analysts Set New Price Targets

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

MasterBrand Stock Performance

MBC stock opened at $13.79 on Wednesday. The stock has a market capitalization of $1.76 billion, a PE ratio of 14.22 and a beta of 1.77. MasterBrand, Inc. has a 12-month low of $12.68 and a 12-month high of $20.67. 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 simple moving average is $15.62 and its 200 day simple moving average is $16.44.

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

MasterBrand declared that its board has authorized a stock repurchase plan on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase 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 Activity at MasterBrand

In other MasterBrand news, Director Robert Crisci acquired 20,000 shares of the 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 owns 66,435 shares of the company’s stock, valued at $935,404.80. The trade was a 43.07 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Juliana L. Chugg acquired 6,989 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the transaction, the director now directly owns 33,424 shares in the company, valued at $473,618.08. This represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by insiders.

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.