235,000 Shares in MasterBrand, Inc. (NYSE:MBC) Bought by Norges Bank

Norges Bank acquired a new stake in shares of MasterBrand, Inc. (NYSE:MBC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 235,000 shares of the company’s stock, valued at approximately $3,433,000. Norges Bank owned 0.18% of MasterBrand at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MBC. Smartleaf Asset Management LLC increased its position in shares of MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock valued at $37,000 after buying an additional 1,549 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of MasterBrand by 52.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock worth $66,000 after acquiring an additional 1,216 shares during the period. KBC Group NV raised its position in shares of MasterBrand by 52.0% in the 4th quarter. KBC Group NV now owns 5,800 shares of the company’s stock worth $85,000 after acquiring an additional 1,983 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of MasterBrand by 39.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock valued at $89,000 after purchasing an additional 1,364 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of MasterBrand during the fourth quarter valued at approximately $150,000. 87.32% of the stock is currently owned by institutional investors.

Insider Transactions at MasterBrand

In related news, Director Robert Crisci bought 20,000 shares of the stock in a transaction 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 purchase, the director now owns 66,435 shares of the company’s stock, valued at approximately $935,404.80. The trade was a 43.07 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Juliana L. Chugg purchased 6,989 shares of MasterBrand stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now directly 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. 1.38% of the stock is owned by insiders.

MasterBrand Trading Down 3.7 %

NYSE:MBC opened at $11.76 on Friday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 12.12 and a beta of 1.70. 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 one year low of $10.84 and a one year high of $20.67. The company’s 50-day simple moving average is $14.10 and its 200 day simple moving average is $15.92.

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

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

Analysts Set New Price Targets

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

MasterBrand Company Profile

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.