MasterBrand (NYSE:MBC) Reaches New 12-Month Low – Time to Sell?

Shares of MasterBrand, Inc. (NYSE:MBC) hit a new 52-week low during trading on Wednesday . The company traded as low as $10.95 and last traded at $11.15, with a volume of 1384951 shares trading hands. The stock had previously closed at $11.82.

Analyst Upgrades and Downgrades

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

MasterBrand Stock Down 5.7 %

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 firm’s 50-day moving average price is $14.42 and its 200 day moving average price is $16.03. The firm has a market cap of $1.42 billion, a P/E ratio of 11.49 and a beta of 1.70.

MasterBrand (NYSE:MBC) last posted its earnings results 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 net margin of 4.66% and a return on equity of 13.89%. The firm had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million.

MasterBrand declared that its Board of Directors has approved a share repurchase plan on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at MasterBrand

In other news, Director Robert Crisci acquired 20,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was acquired 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 directly owns 66,435 shares in the company, valued at $935,404.80. This represents a 43.07 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Juliana L. Chugg bought 6,989 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the purchase, the director now directly owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.38% of the company’s stock.

Institutional Investors Weigh In On MasterBrand

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its holdings in shares of MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock worth $37,000 after purchasing an additional 1,549 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of MasterBrand by 52.4% in the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock valued at $66,000 after buying an additional 1,216 shares in the last quarter. KBC Group NV lifted its position in shares of MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after acquiring an additional 1,983 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of MasterBrand by 39.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock worth $89,000 after acquiring an additional 1,364 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in shares of MasterBrand in the 4th quarter worth $148,000. 87.32% of the stock is owned by institutional investors and hedge funds.

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.