Raymond James Financial Inc. Takes Position in MasterBrand, Inc. (NYSE:MBC)

Raymond James Financial Inc. purchased a new stake in MasterBrand, Inc. (NYSE:MBC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 230,256 shares of the company's stock, valued at approximately $3,364,000. Raymond James Financial Inc. owned approximately 0.18% of MasterBrand as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised 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 purchasing an additional 1,549 shares during the period. KBC Group NV grew its holdings in shares of MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after buying an additional 1,983 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in MasterBrand in the 4th quarter valued at approximately $150,000. Cibc World Markets Corp bought a new stake in MasterBrand in the 4th quarter valued at approximately $173,000. Finally, CIBC Asset Management Inc boosted its position in MasterBrand by 6.1% during the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after acquiring an additional 736 shares during the last quarter. Institutional investors and hedge funds own 87.32% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Crisci purchased 20,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $14.08 per share, with a total value of $281,600.00. Following the acquisition, the director now directly owns 66,435 shares in the company, valued at $935,404.80. The trade was a 43.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Juliana L. Chugg acquired 6,989 shares of MasterBrand stock in a transaction dated Monday, February 24th. The shares were purchased at an average price of $14.17 per share, with a total value of $99,034.13. Following the acquisition, the director now owns 33,424 shares of the company's stock, valued at approximately $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. Company insiders own 1.38% of the company's stock.

MasterBrand Stock Down 0.4 %

Shares of NYSE MBC traded down $0.04 during trading hours on Thursday, hitting $12.11. The company had a trading volume of 358,730 shares, compared to its average volume of 931,492. The stock has a market capitalization of $1.54 billion, a P/E ratio of 12.47 and a beta of 1.70. MasterBrand, Inc. has a 1-year low of $10.84 and a 1-year high of $20.67. The firm's 50 day moving average is $12.80 and its 200-day moving average is $15.35. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78.

MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.17). The firm had revenue of $667.70 million during the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand declared that its board has authorized a stock repurchase program on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

MBC has been the topic of several analyst reports. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital dropped their target price on MasterBrand from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Monday.

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.