Polar Capital Holdings Plc Invests $8.37 Million in MasterBrand, Inc. (NYSE:MBC)

Polar Capital Holdings Plc acquired a new stake in MasterBrand, Inc. (NYSE:MBC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 have also added to or reduced their stakes in the company. Gates Capital Management Inc. grew its stake in shares of MasterBrand by 7.5% during the fourth quarter. Gates Capital Management Inc. now owns 9,489,578 shares of the company's stock worth $138,643,000 after buying an additional 658,807 shares during the last quarter. Boston Partners grew its stake in shares of MasterBrand by 82.2% during the fourth quarter. Boston Partners now owns 5,237,123 shares of the company's stock worth $76,558,000 after buying an additional 2,363,308 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of MasterBrand by 3.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company's stock worth $74,264,000 after buying an additional 156,993 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of MasterBrand by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company's stock worth $72,709,000 after buying an additional 226,818 shares during the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of MasterBrand by 0.3% during the fourth quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company's stock worth $41,608,000 after buying an additional 9,169 shares during the last quarter. 87.32% of the stock is owned by institutional investors.

Insider Activity at MasterBrand

In other news, Director Robert Crisci bought 20,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Juliana L. Chugg bought 6,989 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, the director now owns 33,424 shares of the company's stock, valued at $473,618.08. This trade represents a 26.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is owned by company insiders.

MasterBrand Trading Up 0.9%

Shares of NYSE:MBC traded up $0.11 during mid-day trading on Friday, reaching $11.21. 757,873 shares of the company's stock were exchanged, compared to its average volume of 974,227. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.55 and a beta of 1.74. The business's fifty day moving average price is $12.18 and its 200-day moving average price is $14.70. 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 twelve month low of $9.78 and a twelve month high of $20.67.

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

MasterBrand declared that its board has initiated a stock repurchase plan on Monday, March 17th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

MBC has been the topic of a number of research reports. Zelman & Associates reaffirmed an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th. Loop Capital cut their price target on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a 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.