Hancock Whitney Corp Makes New $330,000 Investment in MasterBrand, Inc. (NYSE:MBC)

Hancock Whitney Corp acquired a new position in MasterBrand, Inc. (NYSE:MBC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,619 shares of the company's stock, valued at approximately $330,000.

Several other large investors also recently added to or reduced their stakes in MBC. Smartleaf Asset Management LLC increased its holdings in MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after acquiring an additional 1,549 shares in the last quarter. KBC Group NV raised its position 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 purchasing an additional 1,983 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of MasterBrand during the 4th quarter valued at $150,000. Cibc World Markets Corp bought a new position in MasterBrand in the 4th quarter worth $173,000. Finally, CIBC Asset Management Inc increased its stake in MasterBrand by 6.1% in the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after buying an additional 736 shares in the last quarter. 87.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MBC has been the topic of several research analyst reports. Loop Capital lowered their price objective on MasterBrand from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th.

Insider Buying and Selling at MasterBrand

In other MasterBrand news, Director Robert Crisci purchased 20,000 shares of the business'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 acquisition, the director now owns 66,435 shares in the company, valued at $935,404.80. This represents a 43.07 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Juliana L. Chugg acquired 6,989 shares of the firm's stock in a transaction on Monday, February 24th. The shares were acquired 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 owns 33,424 shares in the company, valued at approximately $473,618.08. This trade represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

MasterBrand Price Performance

MasterBrand stock traded up $0.34 during midday trading on Friday, reaching $12.45. 110,215 shares of the stock traded hands, compared to its average volume of 931,187. The stock has a market cap of $1.58 billion, a P/E ratio of 12.84 and a beta of 1.70. The stock's fifty day moving average is $12.75 and its 200-day moving average is $15.31. 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 12 month low of $10.84 and a 12 month high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last released 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). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $667.70 million during the quarter, compared to analysts' expectations of $722.85 million.

MasterBrand declared that its board has authorized a share buyback plan on Monday, March 17th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

MasterBrand 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.