Wells Fargo & Company MN Decreases Holdings in MasterBrand, Inc. (NYSE:MBC)

Wells Fargo & Company MN trimmed its holdings in MasterBrand, Inc. (NYSE:MBC) by 2.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 653,480 shares of the company’s stock after selling 15,339 shares during the quarter. Wells Fargo & Company MN’s holdings in MasterBrand were worth $9,547,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC lifted its stake in MasterBrand by 5.1% in the fourth quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock worth $9,503,000 after purchasing an additional 31,714 shares during the last quarter. Barclays PLC boosted its holdings in MasterBrand by 262.4% during the 3rd quarter. Barclays PLC now owns 234,160 shares of the company’s stock valued at $4,341,000 after acquiring an additional 169,550 shares during the period. EMG Holdings L.P. bought a new position in MasterBrand during the 4th quarter worth approximately $2,865,000. JPMorgan Chase & Co. increased its stake in MasterBrand by 135.1% in the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company’s stock worth $10,128,000 after purchasing an additional 398,303 shares during the period. Finally, Principal Financial Group Inc. increased its stake in MasterBrand by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 685,752 shares of the company’s stock worth $10,019,000 after purchasing an additional 25,222 shares during the period. Hedge funds and other institutional investors own 87.32% of the company’s stock.

MasterBrand Trading Down 1.2 %

NYSE MBC opened at $11.43 on Thursday. The stock has a market cap of $1.46 billion, a P/E ratio of 11.78 and a beta of 1.70. MasterBrand, Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $20.67. The stock has a 50 day simple moving average of $13.68 and a two-hundred day simple moving average of $15.77. 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 (NYSE:MBC) last announced its earnings results on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). The business had revenue of $667.70 million for 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%.

MasterBrand announced that its board has authorized a share buyback program on Monday, March 17th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MBC has been the topic of several recent analyst reports. Loop Capital cut their target price on shares of MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Zelman & Associates reissued an “underperform” rating on shares of MasterBrand in a report on Monday.

Insider Transactions at MasterBrand

In other news, Director Juliana L. Chugg bought 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The shares were purchased at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Crisci bought 20,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $14.08 per share, with a total value of $281,600.00. Following the purchase, 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 disclosure for this purchase can be found here. Corporate insiders own 1.38% of the company’s stock.

MasterBrand 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.