Northern Trust Corp Raises Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Northern Trust Corp grew its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,521,870 shares of the company's stock after purchasing an additional 187,666 shares during the period. Northern Trust Corp owned approximately 1.20% of MasterBrand worth $22,235,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MBC. CIBC Asset Management Inc boosted its position in MasterBrand by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock valued at $188,000 after buying an additional 736 shares during the last quarter. Alliancebernstein L.P. lifted its stake in MasterBrand by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock valued at $2,254,000 after acquiring an additional 804 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after acquiring an additional 1,549 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of MasterBrand by 4.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company's stock worth $531,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in MasterBrand by 4.9% during the fourth quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock valued at $498,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 87.32% of the company's stock.

MasterBrand Stock Performance

MBC traded up $0.11 on Friday, reaching $11.21. The stock had a trading volume of 757,873 shares, compared to its average volume of 970,057. The business's 50-day moving average price is $12.22 and its two-hundred day moving average price is $14.79. The company has a market cap of $1.42 billion, a P/E ratio of 11.55 and a beta of 1.74. MasterBrand, Inc. has a 12-month low of $9.78 and a 12-month high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78.

MasterBrand (NYSE:MBC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its board has approved a share buyback plan on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MBC. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th. Loop Capital reduced their price target on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th.

Insider Activity at MasterBrand

In other news, Director Juliana L. Chugg bought 6,989 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were acquired at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the transaction, the director now directly owns 33,424 shares in the company, valued at $473,618.08. The trade was a 26.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Crisci purchased 20,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the purchase, the director now directly owns 66,435 shares of the company's stock, valued at approximately $935,404.80. The trade was a 43.07% 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.

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.