Bokf Na Acquires 2,706 Shares of MasterBrand, Inc. (NYSE:MBC)

Bokf Na grew its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 46,461 shares of the company’s stock after purchasing an additional 2,706 shares during the period. Bokf Na’s holdings in MasterBrand were worth $702,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc grew its holdings in MasterBrand by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock worth $188,000 after buying an additional 736 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of MasterBrand by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 154,249 shares of the company’s stock worth $2,254,000 after acquiring an additional 804 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock valued at $37,000 after purchasing an additional 1,549 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of MasterBrand by 4.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company’s stock valued at $531,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in MasterBrand by 4.9% during the fourth quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company’s stock worth $498,000 after purchasing an additional 1,600 shares during the last quarter. 87.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MasterBrand

In other MasterBrand news, Director Robert Crisci bought 20,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 acquired at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the purchase, the director now directly owns 33,424 shares in the company, valued at $473,618.08. This represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Loop Capital decreased their price objective on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Zelman & Associates reiterated an “underperform” rating on shares of MasterBrand in a report on Monday, April 14th.

MasterBrand Stock Performance

NYSE MBC opened at $9.87 on Friday. The company has a market capitalization of $1.25 billion, a PE ratio of 10.18 and a beta of 1.74. 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 $9.78 and a 52-week high of $20.67. The company has a 50-day simple moving average of $12.43 and a 200 day simple moving average of $14.99.

MasterBrand (NYSE:MBC) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $660.30 million for the quarter, compared to analysts’ expectations of $663.95 million.

MasterBrand announced that its Board of Directors has authorized a stock buyback plan on Monday, March 17th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.