Polar Capital Holdings Plc Buys Shares of 573,077 MasterBrand, Inc. (NYSE:MBC)

Polar Capital Holdings Plc purchased a new position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 573,077 shares of the company's stock, valued at approximately $8,373,000. Polar Capital Holdings Plc owned about 0.45% of MasterBrand at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Barclays PLC boosted its position in shares of MasterBrand by 262.4% in the third quarter. Barclays PLC now owns 234,160 shares of the company's stock worth $4,341,000 after acquiring an additional 169,550 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of MasterBrand by 2.3% in the third 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 during the last quarter. Hennessy Advisors Inc. boosted its position in shares of MasterBrand by 6.8% in the fourth 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 during the last quarter. Wedge Capital Management L L P NC boosted its position in shares of 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 worth $1,138,000 after acquiring an additional 7,515 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of MasterBrand by 4.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company's stock worth $531,000 after acquiring an additional 1,561 shares during the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

MasterBrand Trading Down 3.5%

MBC stock traded down $0.39 during midday trading on Wednesday, reaching $10.53. 233,037 shares of the company's stock traded hands, compared to its average volume of 1,094,624. The company has a market capitalization of $1.33 billion, a P/E ratio of 10.86 and a beta of 1.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. MasterBrand, Inc. has a fifty-two week low of $9.78 and a fifty-two week high of $20.67. The business has a 50-day moving average price of $12.09 and a two-hundred day moving average price of $14.63.

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

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

Insider Buying and Selling

In other MasterBrand news, Director Robert Crisci bought 20,000 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average price 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 in the company, valued at approximately $935,404.80. This trade represents a 43.07% increase in their ownership of the stock. The acquisition 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 on 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 purchase, the director now owns 33,424 shares of the company's stock, valued at $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. Insiders own 1.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MBC. Zelman & Associates reaffirmed an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital reduced their price target 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.

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.