American Century Companies Inc. Boosts Stock Position in MasterBrand, Inc. (NYSE:MBC)

American Century Companies Inc. raised its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 315,622 shares of the company’s stock after acquiring an additional 22,034 shares during the quarter. American Century Companies Inc.’s holdings in MasterBrand were worth $4,611,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vestcor Inc boosted its stake in shares of MasterBrand by 329.0% in the 3rd quarter. Vestcor Inc now owns 40,815 shares of the company’s stock worth $757,000 after buying an additional 31,300 shares during the last quarter. Empowered Funds LLC lifted its holdings in MasterBrand by 5.1% in the fourth quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock valued at $9,503,000 after acquiring an additional 31,714 shares during the period. Barclays PLC boosted its position in MasterBrand by 262.4% in the third quarter. Barclays PLC now owns 234,160 shares of the company’s stock worth $4,341,000 after purchasing an additional 169,550 shares during the last quarter. Principal Financial Group Inc. raised its position in MasterBrand by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 685,752 shares of the company’s stock worth $10,019,000 after acquiring an additional 25,222 shares during the period. Finally, HighTower Advisors LLC raised its stake 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 period. 87.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

MasterBrand Trading Up 1.5 %

Shares of MBC stock opened at $12.48 on Friday. The stock has a fifty day simple moving average of $14.80 and a two-hundred day simple moving average of $16.18. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. MasterBrand, Inc. has a 52-week low of $11.64 and a 52-week high of $20.67. The firm has a market capitalization of $1.59 billion, a PE ratio of 12.87 and a beta of 1.70.

MasterBrand (NYSE:MBC) last issued its 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 company had revenue of $667.70 million for 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 of Directors has authorized a share repurchase plan on Monday, March 17th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Robert Crisci bought 20,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $14.08 per share, with a total value of $281,600.00. Following the transaction, the director now owns 66,435 shares in the company, valued at $935,404.80. This trade represents a 43.07 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Juliana L. Chugg purchased 6,989 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now owns 33,424 shares in the company, valued at $473,618.08. This trade represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.38% of the company’s stock.

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.