MasterBrand (NYSE:MBC) Reaches New 1-Year High - Should You Buy?

MasterBrand, Inc. (NYSE:MBC - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $12.20 and last traded at $12.15, with a volume of 1016337 shares traded. The stock had previously closed at $12.08.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MBC shares. Zelman & Associates reaffirmed an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital decreased their price objective on MasterBrand from $19.00 to $16.00 and set a "buy" rating for the company in a report on Monday, April 28th.

MasterBrand Trading Down 0.9 %

The company has a market cap of $1.54 billion, a P/E ratio of 12.51 and a beta of 1.74. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $12.67 and a 200-day moving average price of $15.17.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.17). The firm 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 has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at MasterBrand

In other MasterBrand news, Director Robert Crisci acquired 20,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $14.08 per share, with a total value of $281,600.00. Following the acquisition, the director now directly owns 66,435 shares of the company's stock, valued at approximately $935,404.80. This trade represents a 43.07 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Juliana L. Chugg bought 6,989 shares of the stock in a transaction dated 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 of the company's stock, 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. 1.38% of the stock is currently owned by corporate insiders.

Institutional Trading of MasterBrand

Several large investors have recently modified their holdings of MBC. Barclays PLC grew 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 buying an additional 169,550 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of MasterBrand by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 82,457 shares of the company's stock worth $1,491,000 after acquiring an additional 1,865 shares in the last quarter. Hennessy Advisors Inc. boosted its position in shares of MasterBrand by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 549,900 shares of the company's stock worth $8,034,000 after acquiring an additional 35,100 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in MasterBrand by 10.7% in the fourth quarter. Wedge Capital Management L L P NC now owns 77,896 shares of the company's stock valued at $1,138,000 after acquiring an additional 7,515 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in MasterBrand by 4.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company's stock valued at $531,000 after purchasing an additional 1,561 shares in the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

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.