MasterBrand (NYSE:MBC) Reaches New 52-Week Low – Here’s What Happened

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

Analyst Ratings Changes

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

MasterBrand Stock Up 1.5 %

The stock’s fifty day moving average is $14.80 and its two-hundred day moving average is $16.19. The stock has a market capitalization of $1.59 billion, a P/E ratio of 12.87 and a beta of 1.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02.

MasterBrand (NYSE:MBC) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.17). The company had revenue of $667.70 million for the quarter, compared to analyst estimates 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 approved 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 reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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 acquired at an average cost of $14.17 per share, with a total value of $99,034.13. Following the purchase, the director now owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Crisci bought 20,000 shares of MasterBrand 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 owns 66,435 shares in the company, valued at approximately $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.

Hedge Funds Weigh In On MasterBrand

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MBC. Smartleaf Asset Management LLC increased its stake in shares of MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock worth $37,000 after purchasing an additional 1,549 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of MasterBrand by 52.4% during the third 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. KBC Group NV boosted its position in shares of MasterBrand by 52.0% in the fourth quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after acquiring an additional 1,983 shares during the period. TD Private Client Wealth LLC boosted its position in shares of MasterBrand by 39.9% in the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock valued at $89,000 after acquiring an additional 1,364 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of MasterBrand in the fourth quarter worth $148,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

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.