Fox Run Management L.L.C. Purchases Shares of 20,151 MasterBrand, Inc. (NYSE:MBC)

Fox Run Management L.L.C. acquired a new position in shares of MasterBrand, Inc. (NYSE:MBC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,151 shares of the company’s stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of MasterBrand during the third quarter valued at about $872,000. Vestcor Inc increased its stake in MasterBrand by 329.0% during the 3rd quarter. Vestcor Inc now owns 40,815 shares of the company’s stock valued at $757,000 after buying an additional 31,300 shares during the period. Empowered Funds LLC raised its position in shares of MasterBrand by 5.1% during the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock worth $9,503,000 after buying an additional 31,714 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of MasterBrand by 18.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock valued at $38,799,000 after acquiring an additional 330,874 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of MasterBrand by 262.4% during the third quarter. Barclays PLC now owns 234,160 shares of the company’s stock valued at $4,341,000 after acquiring an additional 169,550 shares during the period. 87.32% of the stock is owned by institutional investors.

MasterBrand Price Performance

NYSE MBC opened at $13.51 on Friday. The stock has a market capitalization of $1.72 billion, a P/E ratio of 13.93 and a beta of 1.77. 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 business’s fifty day moving average is $15.32 and its two-hundred day moving average is $16.32. MasterBrand, Inc. has a 1 year low of $12.68 and a 1 year high of $20.67.

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

MasterBrand declared that its board has approved a stock repurchase 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 often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other MasterBrand news, Director Juliana L. Chugg bought 6,989 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, the director now directly owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. This trade represents a 26.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Crisci purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price 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 of the company’s stock, valued at $935,404.80. This trade represents a 43.07 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.38% of the company’s stock.

Wall Street Analyst Weigh In

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

MasterBrand Company 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.