Bank of America Corp DE Has $9.19 Million Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Bank of America Corp DE boosted its position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 629,281 shares of the company's stock after buying an additional 117,940 shares during the period. Bank of America Corp DE owned approximately 0.50% of MasterBrand worth $9,194,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of MasterBrand by 5.1% in the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company's stock valued at $9,503,000 after purchasing an additional 31,714 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MasterBrand by 135.1% in the fourth quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company's stock valued at $10,128,000 after buying an additional 398,303 shares in the last quarter. Susquehanna International Group LLP grew its position in MasterBrand by 307.1% in the fourth quarter. Susquehanna International Group LLP now owns 130,490 shares of the company's stock valued at $1,906,000 after acquiring an additional 98,439 shares during the last quarter. Barclays PLC raised its stake in MasterBrand by 262.4% during the third quarter. Barclays PLC now owns 234,160 shares of the company's stock worth $4,341,000 after acquiring an additional 169,550 shares in the last quarter. Finally, EMG Holdings L.P. bought a new position in shares of MasterBrand in the fourth quarter worth about $2,865,000. 87.32% of the stock is owned by institutional investors.

MasterBrand Trading Up 1.5%

Shares of MBC stock traded up $0.15 during mid-day trading on Thursday, reaching $10.27. 597,086 shares of the stock traded hands, compared to its average volume of 980,980. The stock's fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $14.28. 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 1-year low of $9.63 and a 1-year high of $20.67. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 10.59 and a beta of 1.74.

MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). The business had revenue of $660.30 million during the quarter, compared to analyst estimates of $663.95 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand declared that its board has approved a share buyback program on Monday, March 17th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MBC shares. Loop Capital dropped their price objective on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th.

Insider Activity at MasterBrand

In related news, Director Robert Crisci purchased 20,000 shares of MasterBrand stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the transaction, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.38% of the stock is currently owned by company insiders.

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.