Invesco Ltd. Buys 208,568 Shares of MasterBrand, Inc. (NYSE:MBC)

Invesco Ltd. raised its stake in MasterBrand, Inc. (NYSE:MBC) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,577,259 shares of the company’s stock after buying an additional 208,568 shares during the period. Invesco Ltd. owned about 1.24% of MasterBrand worth $23,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock valued at $37,000 after acquiring an additional 1,549 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of MasterBrand by 52.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock valued at $66,000 after purchasing an additional 1,216 shares during the last quarter. KBC Group NV raised its holdings in shares of MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after buying an additional 1,983 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of MasterBrand during the 4th quarter valued at about $150,000. Finally, Cibc World Markets Corp bought a new stake in MasterBrand in the 4th quarter worth approximately $173,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Insiders Place Their Bets

In other MasterBrand news, Director Juliana L. Chugg bought 6,989 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average cost of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now directly owns 33,424 shares of the company’s stock, valued at $473,618.08. This trade represents a 26.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Crisci purchased 20,000 shares of MasterBrand stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the acquisition, the director now 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. Insiders own 1.38% of the company’s stock.

MasterBrand Trading Up 2.1 %

Shares of MBC stock opened at $11.63 on Friday. The business has a 50-day moving average of $13.48 and a 200 day moving average of $15.67. 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, Inc. has a 1-year low of $10.84 and a 1-year high of $20.67. The stock has a market capitalization of $1.48 billion, a PE ratio of 11.99 and a beta of 1.70.

MasterBrand (NYSE:MBC) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $722.85 million.

MasterBrand declared that its Board of Directors has initiated a share buyback plan on Monday, March 17th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have commented on MBC. Loop Capital decreased their price target on shares of MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Zelman & Associates reiterated an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th.

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.