JPMorgan Chase & Co. Buys 398,303 Shares of MasterBrand, Inc. (NYSE:MBC)

JPMorgan Chase & Co. lifted its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 135.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 693,220 shares of the company's stock after purchasing an additional 398,303 shares during the quarter. JPMorgan Chase & Co. owned 0.55% of MasterBrand worth $10,128,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in MasterBrand by 7.6% during the third quarter. HighTower Advisors LLC now owns 29,578 shares of the company's stock worth $543,000 after buying an additional 2,086 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings 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 worth $66,000 after acquiring an additional 1,216 shares during the period. Barclays PLC boosted its position in shares of MasterBrand by 262.4% during the 3rd 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. Geode Capital Management LLC increased its stake in MasterBrand by 4.2% in the third quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company's stock valued at $63,053,000 after acquiring an additional 135,693 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in MasterBrand by 39.9% during the third 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 in the last quarter. Institutional investors own 87.32% of the company's stock.

MasterBrand Price Performance

Shares of MasterBrand stock traded up $0.24 during midday trading on Friday, hitting $11.63. 846,558 shares of the company traded hands, compared to its average volume of 933,998. The firm's fifty day moving average price is $13.48 and its 200-day moving average price is $15.66. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 11.99 and a beta of 1.70. MasterBrand, Inc. has a 12 month low of $10.84 and a 12 month high of $20.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65.

MasterBrand (NYSE:MBC - Get Free Report) last posted its earnings results 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). The company had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand declared that its Board of Directors has approved a share repurchase program on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other MasterBrand news, Director Robert Crisci bought 20,000 shares of the business'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 transaction, the director now directly owns 66,435 shares in the company, valued at approximately $935,404.80. This represents a 43.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Juliana L. Chugg bought 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The shares were acquired at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Loop Capital reduced their target price on MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th.

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.