Counterpoint Mutual Funds LLC Buys 9,881 Shares of MasterBrand, Inc. (NYSE:MBC)

Counterpoint Mutual Funds LLC boosted its holdings in MasterBrand, Inc. (NYSE:MBC) by 63.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,333 shares of the company’s stock after buying an additional 9,881 shares during the period. Counterpoint Mutual Funds LLC’s holdings in MasterBrand were worth $370,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its position in MasterBrand by 11.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company’s stock worth $91,329,000 after buying an additional 518,443 shares during the period. Geode Capital Management LLC increased its position in MasterBrand by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company’s stock worth $63,053,000 after buying an additional 135,693 shares during the period. Pzena Investment Management LLC increased its position in MasterBrand by 0.3% in the 4th quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company’s stock worth $41,608,000 after buying an additional 9,169 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 worth $35,122,000 after buying an additional 311,286 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in MasterBrand by 58.9% in the 3rd 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. 87.32% of the stock is owned by institutional investors.

MasterBrand Stock Performance

MBC opened at $13.37 on Tuesday. The stock has a market cap of $1.71 billion, a PE ratio of 13.78 and a beta of 1.77. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. MasterBrand, Inc. has a 1 year low of $12.68 and a 1 year high of $20.67. The stock’s 50 day simple moving average is $15.64 and its 200-day simple moving average is $16.46.

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). The firm had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

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

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.

Insider Activity

In related news, Director Juliana L. Chugg purchased 6,989 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average price of $14.17 per share, with a total value of $99,034.13. Following the purchase, the director now directly owns 33,424 shares in the company, valued at $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Crisci purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the purchase, the director now owns 66,435 shares in the company, valued at $935,404.80. This represents a 43.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by company insiders.

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.