MasterBrand, Inc. (NYSE:MBC) Shares Bought by Gates Capital Management Inc.

Gates Capital Management Inc. increased its position in shares of MasterBrand, Inc. (NYSE:MBC) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,489,578 shares of the company’s stock after acquiring an additional 658,807 shares during the period. MasterBrand comprises about 2.6% of Gates Capital Management Inc.’s portfolio, making the stock its 9th biggest position. Gates Capital Management Inc. owned about 7.47% of MasterBrand worth $138,643,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in MasterBrand by 150.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock worth $37,000 after purchasing an additional 1,549 shares during the last quarter. KBC Group NV boosted its holdings in MasterBrand by 52.0% in the fourth quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after acquiring an additional 1,983 shares during the last quarter. Caxton Associates LP acquired a new stake in MasterBrand during the 4th quarter valued at approximately $148,000. Proficio Capital Partners LLC acquired a new position in shares of MasterBrand in the 4th quarter worth approximately $150,000. Finally, Cetera Investment Advisers bought a new stake in shares of MasterBrand in the 4th quarter valued at $164,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

MasterBrand Trading Down 4.6 %

NYSE:MBC opened at $9.87 on Friday. MasterBrand, Inc. has a one year low of $9.78 and a one year high of $20.67. The company has a market cap of $1.25 billion, a PE ratio of 10.18 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. The firm has a 50-day moving average of $12.43 and a 200-day moving average of $14.99.

MasterBrand (NYSE:MBC) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.05). The company had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $663.95 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand declared that its board has authorized a share buyback plan on Monday, March 17th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase 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.

Analysts Set New Price Targets

A number of analysts have weighed in on MBC shares. Zelman & Associates reiterated an “underperform” rating on shares of MasterBrand in a report on Monday, April 14th. Loop Capital reduced their price objective on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday.

Insiders Place Their Bets

In other news, Director Robert Crisci purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the acquisition, the director now owns 66,435 shares in the company, valued at $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 can be accessed through this link. Also, Director Juliana L. Chugg acquired 6,989 shares of the firm’s stock in a transaction 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 purchase, the director now owns 33,424 shares in the company, valued at approximately $473,618.08. The trade was a 26.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company’s stock.

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.