Polar Capital Holdings Plc Invests $8.37 Million in MasterBrand, Inc. (NYSE:MBC)

Polar Capital Holdings Plc acquired a new stake in shares of MasterBrand, Inc. (NYSE:MBC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 573,077 shares of the company’s stock, valued at approximately $8,373,000. Polar Capital Holdings Plc owned about 0.45% of MasterBrand at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in 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. KBC Group NV boosted its stake in shares of MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company’s stock worth $85,000 after acquiring an additional 1,983 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of MasterBrand during the 4th quarter worth about $148,000. Proficio Capital Partners LLC purchased a new stake in shares of MasterBrand during the 4th quarter worth about $150,000. Finally, Cetera Investment Advisers purchased a new stake in shares of MasterBrand during the 4th quarter worth about $164,000. 87.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Juliana L. Chugg acquired 6,989 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was bought at an average cost of $14.17 per share, with a total value of $99,034.13. Following the acquisition, the director now directly owns 33,424 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Crisci acquired 20,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $14.08 per share, with a total value of $281,600.00. Following the completion of the acquisition, the director now owns 66,435 shares in the company, valued at $935,404.80. This represents a 43.07% 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 company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MBC shares. Zelman & Associates restated an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital decreased their price target on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th.

MasterBrand Stock Up 2.2%

Shares of NYSE MBC opened at $11.11 on Friday. MasterBrand, Inc. has a 1 year low of $9.78 and a 1 year high of $20.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. The company has a 50 day simple moving average of $12.22 and a 200-day simple moving average of $14.79. The company has a market capitalization of $1.41 billion, a P/E ratio of 11.45 and a beta of 1.74.

MasterBrand (NYSE:MBC) last released its quarterly earnings data 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 firm 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 permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.