Pictet Asset Management Holding SA Increases Holdings in MasterBrand, Inc. (NYSE:MBC)

Pictet Asset Management Holding SA lifted its position in MasterBrand, Inc. (NYSE:MBC) by 31.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,109 shares of the company’s stock after buying an additional 4,296 shares during the period. Pictet Asset Management Holding SA’s holdings in MasterBrand were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. HighTower Advisors LLC boosted its holdings in shares of MasterBrand by 7.6% in the third quarter. HighTower Advisors LLC now owns 29,578 shares of the company’s stock worth $543,000 after buying an additional 2,086 shares during the last quarter. EP Wealth Advisors LLC bought a new position in MasterBrand in the third quarter worth approximately $252,000. Y Intercept Hong Kong Ltd boosted its stake in shares of MasterBrand by 211.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 35,480 shares of the company’s stock worth $658,000 after acquiring an additional 24,091 shares during the last quarter. Public Employees Retirement System of Ohio grew its position 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 valued at $66,000 after acquiring an additional 1,216 shares during the period. Finally, Barclays PLC increased its stake in shares of MasterBrand by 262.4% in the 3rd quarter. Barclays PLC now owns 234,160 shares of the company’s stock worth $4,341,000 after purchasing an additional 169,550 shares in the last quarter. Institutional investors own 87.32% of the company’s stock.

MasterBrand Trading Down 3.7 %

Shares of NYSE:MBC opened at $11.76 on Friday. The stock has a 50 day moving average of $14.10 and a 200 day moving average of $15.92. The company has a market cap of $1.50 billion, a PE ratio of 12.12 and a beta of 1.70. MasterBrand, Inc. has a 12-month low of $10.84 and a 12-month high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78.

MasterBrand (NYSE:MBC) last posted its quarterly earnings results 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). The firm had revenue of $667.70 million during the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its board has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other MasterBrand news, Director Robert Crisci purchased 20,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available 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 bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the transaction, the director now owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. The trade was 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 currently owned by insiders.

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.