Insider Buying: MasterBrand, Inc. (NYSE:MBC) Director Acquires 6,989 Shares of Stock

MasterBrand, Inc. (NYSE:MBC) Director Juliana L. Chugg acquired 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, for a total transaction of $99,034.13. Following the completion of the transaction, the director now directly owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

MasterBrand Trading Up 0.6 %

Shares of NYSE:MBC traded up $0.09 during midday trading on Wednesday, hitting $14.45. The company had a trading volume of 443,300 shares, compared to its average volume of 1,030,261. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.90 and a beta of 1.58. The firm has a fifty day simple moving average of $15.91 and a 200 day simple moving average of $16.66. MasterBrand, Inc. has a 12 month low of $13.90 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 issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). The business had revenue of $667.70 million during the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

Institutional Investors Weigh In On MasterBrand

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc boosted its holdings in MasterBrand by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock worth $188,000 after acquiring an additional 736 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of MasterBrand by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 154,249 shares of the company’s stock worth $2,254,000 after purchasing an additional 804 shares during the period. Quest Partners LLC boosted its holdings in shares of MasterBrand by 33.3% in the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock valued at $61,000 after buying an additional 821 shares in the last quarter. North Growth Management Ltd. increased its holdings in shares of MasterBrand by 0.6% during the third quarter. North Growth Management Ltd. now owns 180,000 shares of the company’s stock valued at $3,336,000 after acquiring an additional 1,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in MasterBrand by 1.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 94,554 shares of the company’s stock worth $1,753,000 after buying an additional 1,107 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.