Fox Run Management L.L.C. Takes Position in MasterBrand, Inc. (NYSE:MBC)

Fox Run Management L.L.C. acquired a new position in MasterBrand, Inc. (NYSE:MBC) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 20,151 shares of the company’s stock, valued at approximately $294,000.

Other hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its position in shares of MasterBrand by 82.2% in the fourth quarter. Boston Partners now owns 5,237,123 shares of the company’s stock worth $76,558,000 after buying an additional 2,363,308 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of MasterBrand by 3.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company’s stock valued at $74,264,000 after acquiring an additional 156,993 shares in the last quarter. Geode Capital Management LLC lifted its holdings in MasterBrand by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company’s stock worth $63,053,000 after purchasing an additional 135,693 shares during the last quarter. Pzena Investment Management LLC boosted its position in MasterBrand by 0.3% during the fourth quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company’s stock worth $41,608,000 after purchasing an additional 9,169 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in MasterBrand by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company’s stock valued at $35,122,000 after purchasing an additional 311,286 shares during the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Loop Capital reduced their price objective on shares of MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th.

Insider Buying and Selling

In other MasterBrand news, Director Juliana L. Chugg purchased 6,989 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Crisci acquired 20,000 shares of the firm’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 acquisition, the director now directly owns 66,435 shares of the company’s stock, valued at approximately $935,404.80. This represents a 43.07 % increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is owned by company insiders.

MasterBrand Stock Down 0.2 %

MBC opened at $13.51 on Friday. The business has a 50 day moving average of $15.32 and a 200-day moving average of $16.32. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.93 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 1-year low of $12.68 and a 1-year high of $20.67.

MasterBrand (NYSE:MBC) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $722.85 million.

MasterBrand declared that its board has initiated a stock repurchase program on Monday, March 17th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.