EMG Holdings L.P. Makes New $2.87 Million Investment in MasterBrand, Inc. (NYSE:MBC)

EMG Holdings L.P. purchased a new stake in MasterBrand, Inc. (NYSE:MBC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 196,082 shares of the company’s stock, valued at approximately $2,865,000. MasterBrand accounts for about 1.7% of EMG Holdings L.P.’s holdings, making the stock its 10th largest position. EMG Holdings L.P. owned 0.15% of MasterBrand as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MBC. Smartleaf Asset Management LLC lifted its holdings in MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock valued at $37,000 after buying an additional 1,549 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of MasterBrand by 52.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock valued at $66,000 after purchasing an additional 1,216 shares during the period. KBC Group NV lifted its stake in shares of MasterBrand by 52.0% in the 4th quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after purchasing an additional 1,983 shares during the period. TD Private Client Wealth LLC boosted its position 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 valued at $89,000 after purchasing an additional 1,364 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in MasterBrand during the fourth quarter worth approximately $150,000. 87.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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 note on Wednesday, February 19th.

MasterBrand Stock Down 0.6 %

Shares of NYSE MBC opened at $12.99 on Wednesday. MasterBrand, Inc. has a 12-month low of $12.68 and a 12-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. The firm has a market cap of $1.66 billion, a PE ratio of 13.39 and a beta of 1.77. The company’s fifty day simple moving average is $15.07 and its 200 day simple moving average is $16.27.

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.

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

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 the company’s stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $14.17 per share, for a total transaction 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 approximately $473,618.08. This represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company’s stock.

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.