MasterBrand, Inc. (NYSE:MBC) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 14.1% in the fourth quarter, according to 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 quarter. Northern Trust Corp owned 1.20% of MasterBrand worth $22,235,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MBC. CIBC Asset Management Inc boosted its stake in shares of MasterBrand by 6.1% in the 4th 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 period. Alliancebernstein L.P. boosted its stake in shares of MasterBrand by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock valued at $2,254,000 after buying an additional 804 shares during the period. Smartleaf Asset Management LLC boosted its stake 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 buying an additional 1,549 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of MasterBrand by 4.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company's stock valued at $531,000 after buying an additional 1,561 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of MasterBrand by 4.9% in the 4th quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock valued at $498,000 after buying an additional 1,600 shares during the period. 87.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MasterBrand

In related news, Director Juliana L. Chugg bought 6,989 shares of the company's stock in a transaction dated 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 acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Crisci bought 20,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the acquisition, the director now 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 disclosure for this purchase can be found here. 1.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Loop Capital decreased their price objective on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th.

MasterBrand Stock Performance

NYSE 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 974,227. 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, Inc. has a 12-month low of $9.78 and a 12-month high of $20.67. The business's 50-day moving average price is $12.18 and its 200 day moving average price is $14.70. The stock has a market cap of $1.42 billion, a P/E ratio of 11.55 and a beta of 1.74.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings data 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). MasterBrand had a net margin of 4.66% and a return on equity of 13.89%. The firm had revenue of $660.30 million during the quarter, compared to analysts' expectations of $663.95 million.

MasterBrand declared that its Board of Directors has authorized a share buyback program on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors 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.