Corton Capital Inc. Makes New Investment in MasterBrand, Inc. (NYSE:MBC)

Corton Capital Inc. bought a new stake in MasterBrand, Inc. (NYSE:MBC) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 14,995 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors also recently modified their holdings of the company. Boston Partners lifted its position in shares of MasterBrand by 82.2% during the 4th quarter. Boston Partners now owns 5,237,123 shares of the company’s stock worth $76,558,000 after buying an additional 2,363,308 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of MasterBrand by 135.1% during the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company’s stock valued at $10,128,000 after purchasing an additional 398,303 shares during the period. Royce & Associates LP lifted its holdings in shares of MasterBrand by 97.0% in the fourth quarter. Royce & Associates LP now owns 724,161 shares of the company’s stock worth $10,580,000 after buying an additional 356,506 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in MasterBrand by 14.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company’s stock valued at $35,122,000 after purchasing an additional 311,286 shares during the period. Finally, Jane Street Group LLC grew its position in MasterBrand by 590.5% during the fourth quarter. Jane Street Group LLC now owns 322,883 shares of the company’s stock worth $4,717,000 after buying an additional 276,123 shares in the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MasterBrand

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 acquired at an average price of $14.08 per share, with a total value of $281,600.00. Following the transaction, the director now owns 66,435 shares in the company, valued at approximately $935,404.80. This trade represents a 43.07 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Juliana L. Chugg bought 6,989 shares of the stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, the director now owns 33,424 shares of the company’s stock, valued at $473,618.08. This trade represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is owned by company insiders.

MasterBrand Stock Down 15.6 %

Shares of NYSE MBC opened at $10.11 on Thursday. MasterBrand, Inc. has a 12 month low of $9.99 and a 12 month high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $12.55 and a two-hundred day simple moving average of $15.11. The firm has a market capitalization of $1.28 billion, a PE ratio of 10.42 and a beta of 1.74.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data 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). The firm had revenue of $660.30 million during the quarter, compared to the consensus estimate of $663.95 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand declared that its Board of Directors has authorized a stock repurchase program on Monday, March 17th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MBC shares. Loop Capital lowered their price objective on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Zelman & Associates restated an “underperform” rating on shares of MasterBrand in a report on Monday, April 14th.

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.