Invesco Ltd. Purchases 208,568 Shares of MasterBrand, Inc. (NYSE:MBC)

Invesco Ltd. lifted its position in shares of MasterBrand, Inc. (NYSE:MBC) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,577,259 shares of the company’s stock after purchasing an additional 208,568 shares during the quarter. Invesco Ltd.’s holdings in MasterBrand were worth $23,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MBC. Boston Partners increased its stake in shares of MasterBrand by 82.2% in the 4th quarter. Boston Partners now owns 5,237,123 shares of the company’s stock worth $76,558,000 after acquiring an additional 2,363,308 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of MasterBrand by 3.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company’s stock worth $74,264,000 after purchasing an additional 156,993 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of MasterBrand by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company’s stock worth $63,053,000 after buying an additional 135,693 shares during the last quarter. Pzena Investment Management LLC increased its position in MasterBrand by 0.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company’s stock valued at $41,608,000 after buying an additional 9,169 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in MasterBrand by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company’s stock worth $35,122,000 after acquiring an additional 311,286 shares in the last quarter. 87.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on MBC shares. Zelman & Associates reissued an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital cut their target price on MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th.

Insider Activity

In related news, Director Juliana L. Chugg acquired 6,989 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were purchased at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now directly owns 33,424 shares of the company’s stock, valued at $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Crisci acquired 20,000 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the transaction, the director now owns 66,435 shares in the company, valued at approximately $935,404.80. This represents a 43.07 % 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.

MasterBrand Stock Up 2.1 %

MBC opened at $11.63 on Friday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.99 and a beta of 1.70. The firm has a 50 day moving average price of $13.48 and a 200-day moving average price of $15.67. MasterBrand, Inc. has a twelve month low of $10.84 and a twelve month high of $20.67. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78.

MasterBrand (NYSE:MBC) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.17). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The firm had revenue of $667.70 million during the quarter, compared to the consensus estimate of $722.85 million.

MasterBrand announced that its Board of Directors has initiated a share buyback program on Monday, March 17th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors 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.