Proficio Capital Partners LLC Purchases New Holdings in MasterBrand, Inc. (NYSE:MBC)

Proficio Capital Partners LLC acquired a new position 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 firm acquired 10,271 shares of the company’s stock, valued at approximately $150,000.

Other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of MasterBrand by 58.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,425,966 shares of the company’s stock worth $26,437,000 after buying an additional 528,537 shares during the period. Charles Schwab Investment Management Inc. grew its position in MasterBrand by 18.8% in the 3rd 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 during the last quarter. Bank of Montreal Can increased its stake in MasterBrand by 1,087.5% in the third quarter. Bank of Montreal Can now owns 246,855 shares of the company’s stock worth $4,527,000 after purchasing an additional 226,068 shares during the period. Barclays PLC lifted its position in shares of MasterBrand by 262.4% during the third quarter. Barclays PLC now owns 234,160 shares of the company’s stock worth $4,341,000 after purchasing an additional 169,550 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of MasterBrand by 4.2% during the third quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company’s stock worth $63,053,000 after purchasing an additional 135,693 shares during the last quarter. Institutional investors own 87.32% of the company’s stock.

Insider Activity

In related news, Director Robert Crisci bought 20,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought 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 approximately $935,404.80. This represents a 43.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Juliana L. Chugg purchased 6,989 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the acquisition, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. This trade 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 Stock Performance

Shares of NYSE:MBC opened at $13.08 on Friday. The firm’s 50 day simple moving average is $15.24 and its 200-day simple moving average is $16.31. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. MasterBrand, Inc. has a one year low of $12.68 and a one year high of $20.67. The firm has a market cap of $1.67 billion, a PE ratio of 13.48 and a beta of 1.77.

MasterBrand (NYSE:MBC) last released 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). The firm had revenue of $667.70 million for the quarter, compared to analysts’ expectations of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its Board of Directors has authorized a share 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 buy up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Loop Capital cut their price target on shares of MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a report 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.