Gates Capital Management Inc. Buys 658,807 Shares of MasterBrand, Inc. (NYSE:MBC)

Gates Capital Management Inc. grew its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,489,578 shares of the company's stock after purchasing an additional 658,807 shares during the quarter. MasterBrand makes up approximately 2.6% of Gates Capital Management Inc.'s investment portfolio, making the stock its 9th largest holding. Gates Capital Management Inc. owned approximately 7.47% of MasterBrand worth $138,643,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MBC. EP Wealth Advisors LLC grew its position in MasterBrand by 15.0% during the 4th quarter. EP Wealth Advisors LLC now owns 15,604 shares of the company's stock worth $228,000 after acquiring an additional 2,035 shares during the last quarter. Corton Capital Inc. acquired a new position in MasterBrand during the 4th quarter valued at about $219,000. Cubist Systematic Strategies LLC purchased a new position in MasterBrand during the 4th quarter worth $242,000. Cetera Investment Advisers purchased a new position in shares of MasterBrand in the 4th quarter worth approximately $164,000. Finally, BOKF NA boosted its holdings in shares of MasterBrand by 6.2% in the 4th quarter. BOKF NA now owns 46,461 shares of the company's stock worth $702,000 after buying an additional 2,706 shares during the last quarter. Institutional investors own 87.32% of the company's stock.

MasterBrand Stock Down 0.4%

MBC stock traded down $0.04 on Thursday, hitting $10.83. 55,519 shares of the company's stock were exchanged, compared to its average volume of 967,465. MasterBrand, Inc. has a 12-month low of $9.78 and a 12-month high of $20.67. The firm has a 50 day moving average price of $12.28 and a two-hundred day moving average price of $14.85. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The stock has a market cap of $1.37 billion, a P/E ratio of 11.12 and a beta of 1.74.

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

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

Insider Buying and Selling

In other news, Director Juliana L. Chugg bought 6,989 shares of MasterBrand stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the purchase, the director now owns 33,424 shares of the company's stock, valued at approximately $473,618.08. The trade was a 26.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Crisci bought 20,000 shares of the firm's stock in a transaction 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 completion of 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 position. The disclosure for this purchase can be found here. Corporate insiders own 1.38% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on MBC. Zelman & Associates reaffirmed an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th. Loop Capital reduced their price objective on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th.

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.