Mawer Investment Management Ltd. Increases Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Mawer Investment Management Ltd. increased its stake in MasterBrand, Inc. (NYSE:MBC) by 14.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 793,149 shares of the company’s stock after acquiring an additional 98,966 shares during the quarter. Mawer Investment Management Ltd.’s holdings in MasterBrand were worth $11,588,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in shares of MasterBrand by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock worth $188,000 after purchasing an additional 736 shares in the last quarter. Quest Partners LLC increased its stake in MasterBrand by 33.3% during the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock worth $61,000 after buying an additional 821 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of MasterBrand by 52.4% during the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock valued at $66,000 after acquiring an additional 1,216 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of MasterBrand by 39.9% in the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock valued at $89,000 after acquiring an additional 1,364 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock worth $37,000 after acquiring an additional 1,549 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Loop Capital reduced their price objective on MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th.

MasterBrand Stock Performance

MBC opened at $13.08 on Friday. MasterBrand, Inc. has a twelve month low of $12.68 and a twelve month high of $20.67. The firm has a market capitalization of $1.67 billion, a PE ratio of 13.48 and a beta of 1.77. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $15.24 and its 200 day moving average price is $16.31.

MasterBrand (NYSE:MBC) last issued its earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.17). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million.

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 outstanding shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at MasterBrand

In other news, Director Juliana L. Chugg acquired 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, with a total value of $99,034.13. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Crisci bought 20,000 shares of MasterBrand stock in a transaction on Friday, February 28th. The shares were 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 $935,404.80. This trade represents 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 owned by company 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.