Zelman & Associates Reaffirms Underperform Rating for MasterBrand (NYSE:MBC)

Zelman & Associates restated their underperform rating on shares of MasterBrand (NYSE:MBC) in a research report report published on Monday morning, Marketbeat.com reports.

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

MasterBrand Trading Down 1.2 %

NYSE MBC opened at $11.43 on Monday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 11.78 and a beta of 1.70. MasterBrand has a twelve month low of $10.84 and a twelve month high of $20.67. 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 business’s fifty day moving average is $13.68 and its 200 day moving average is $15.77.

MasterBrand (NYSE:MBC) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.17). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The firm had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million.

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

Insider Buying and Selling

In related news, Director Juliana L. Chugg acquired 6,989 shares of MasterBrand stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $14.17 per share, with a total value of $99,034.13. Following 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Crisci bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the transaction, the director now directly owns 66,435 shares in the company, 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. 1.38% of the stock is owned by insiders.

Institutional Investors Weigh In On MasterBrand

Several hedge funds and other institutional investors have recently bought and sold shares of MBC. Smartleaf Asset Management LLC increased its position in MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock valued at $37,000 after buying an additional 1,549 shares in the last quarter. Public Employees Retirement System of Ohio increased 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 valued at $66,000 after acquiring an additional 1,216 shares in the last quarter. KBC Group NV raised its position in shares of MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company’s stock worth $85,000 after purchasing an additional 1,983 shares during the period. TD Private Client Wealth LLC grew its position in MasterBrand by 39.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock valued at $89,000 after purchasing an additional 1,364 shares during the period. Finally, Caxton Associates LP bought a new stake in MasterBrand during the 4th quarter valued at $148,000. 87.32% of the stock is owned by institutional investors.

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.