Share Buyback Plan Initiated by MasterBrand (NYSE:MBC) Board of Directors

MasterBrand (NYSE:MBC) declared that its Board of Directors has initiated a share repurchase plan on Monday, March 17th, RTT News reports. The company plans to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Loop Capital lowered their target price on MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, February 19th.

MasterBrand Stock Up 2.0 %

MasterBrand stock opened at $14.05 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.79 billion, a PE ratio of 14.49 and a beta of 1.77. The firm’s fifty day moving average is $15.60 and its 200 day moving average is $16.42. MasterBrand has a 12-month low of $12.68 and a 12-month high of $20.67.

MasterBrand (NYSE:MBC) last released 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). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million.

Insider Buying and Selling at MasterBrand

In other MasterBrand news, Director Robert Crisci acquired 20,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the acquisition, the director now owns 66,435 shares in the company, valued at approximately $935,404.80. This represents a 43.07 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Juliana L. Chugg acquired 6,989 shares of MasterBrand stock in a transaction dated Monday, February 24th. The shares were acquired at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the acquisition, the director now directly 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 disclosure for this purchase can be found here. Insiders own 1.38% of the company’s stock.

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.