American Century Companies Inc. Grows Stake in MasterBrand, Inc. (NYSE:MBC)

American Century Companies Inc. lifted its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315,622 shares of the company's stock after buying an additional 22,034 shares during the period. American Century Companies Inc. owned approximately 0.25% of MasterBrand worth $4,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners lifted its holdings in MasterBrand by 82.2% in the fourth quarter. Boston Partners now owns 5,237,123 shares of the company's stock valued at $76,558,000 after acquiring an additional 2,363,308 shares during the period. Royce & Associates LP boosted its holdings in shares of MasterBrand by 97.0% in the fourth quarter. Royce & Associates LP now owns 724,161 shares of the company's stock worth $10,580,000 after buying an additional 356,506 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of MasterBrand by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company's stock worth $35,122,000 after buying an additional 311,286 shares during the last quarter. Raymond James Financial Inc. bought a new stake in MasterBrand during the fourth quarter valued at approximately $3,364,000. Finally, Barclays PLC increased its holdings in MasterBrand by 262.4% during the third quarter. Barclays PLC now owns 234,160 shares of the company's stock valued at $4,341,000 after buying an additional 169,550 shares during the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Stock Performance

NYSE:MBC traded down $0.45 during mid-day trading on Thursday, hitting $11.76. 1,118,288 shares of the company traded hands, compared to its average volume of 920,740. The stock's fifty day moving average price is $14.10 and its 200-day moving average price is $15.92. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. MasterBrand, Inc. has a one year low of $10.84 and a one year high of $20.67. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 12.12 and a beta of 1.70.

MasterBrand (NYSE:MBC - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates 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 declared that its board has authorized a stock buyback plan on Monday, March 17th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Separately, Loop Capital dropped 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.

Insider Activity

In other MasterBrand news, Director Juliana L. Chugg acquired 6,989 shares of the company's stock in a transaction dated 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 purchase, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. The trade was a 26.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Crisci bought 20,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

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.