MasterBrand, Inc. (NYSE:MBC) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of MasterBrand, Inc. (NYSE:MBC) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,070 shares of the company’s stock after acquiring an additional 2,709 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of MasterBrand worth $1,053,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Empowered Funds LLC grew its stake in shares of MasterBrand by 5.1% in the 4th 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. JPMorgan Chase & Co. boosted its holdings in MasterBrand by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company’s stock worth $10,128,000 after buying an additional 398,303 shares in the last quarter. Susquehanna International Group LLP grew its position in MasterBrand by 307.1% in the fourth quarter. Susquehanna International Group LLP now owns 130,490 shares of the company’s stock worth $1,906,000 after buying an additional 98,439 shares during the last quarter. Barclays PLC increased its holdings in shares of MasterBrand by 262.4% in the third quarter. Barclays PLC now owns 234,160 shares of the company’s stock valued at $4,341,000 after buying an additional 169,550 shares in the last quarter. Finally, EMG Holdings L.P. acquired a new stake in shares of MasterBrand during the 4th quarter valued at $2,865,000. 87.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Robert Crisci bought 20,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.38% of the company’s stock.

MasterBrand Trading Down 1.6%

MasterBrand stock opened at $9.80 on Monday. MasterBrand, Inc. has a 52 week low of $9.63 and a 52 week high of $20.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.10 and a beta of 1.74. The company has a 50 day moving average price of $11.88 and a 200 day moving average price of $14.44.

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

MasterBrand announced that its Board of Directors has initiated a stock buyback program on Monday, March 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are 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.