MasterBrand, Inc. (NYSE:MBC) Shares Sold by Mariner LLC

Mariner LLC decreased its position in MasterBrand, Inc. (NYSE:MBC) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,084 shares of the company’s stock after selling 2,873 shares during the quarter. Mariner LLC’s holdings in MasterBrand were worth $381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners increased its position in shares of MasterBrand by 82.2% during the fourth quarter. Boston Partners now owns 5,237,123 shares of the company’s stock worth $76,558,000 after acquiring an additional 2,363,308 shares during the period. JPMorgan Chase & Co. raised its stake in MasterBrand by 135.1% during the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company’s stock worth $10,128,000 after acquiring an additional 398,303 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of MasterBrand by 97.0% in the 4th quarter. Royce & Associates LP now owns 724,161 shares of the company’s stock valued at $10,580,000 after purchasing an additional 356,506 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in MasterBrand by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company’s stock valued at $35,122,000 after buying an additional 311,286 shares during the last quarter. Finally, Norges Bank purchased a new stake in MasterBrand in the 4th quarter valued at $3,433,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on MBC shares. Loop Capital decreased their price objective on MasterBrand from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Zelman & Associates reissued an “underperform” rating on shares of MasterBrand in a report on Monday, April 14th.

MasterBrand Stock Up 3.3 %

Shares of NYSE MBC opened at $12.51 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. The firm’s 50-day moving average is $12.71 and its two-hundred day moving average is $15.24. The company has a market capitalization of $1.59 billion, a PE ratio of 12.90 and a beta of 1.70. MasterBrand, Inc. has a 12-month low of $10.84 and a 12-month high of $20.67.

MasterBrand (NYSE:MBC) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 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 firm had revenue of $667.70 million for the quarter, compared to analysts’ expectations of $722.85 million.

MasterBrand declared that its board has approved a share repurchase program on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Juliana L. Chugg purchased 6,989 shares of the company’s stock in a transaction on Monday, February 24th. The stock was bought 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 $473,618.08. The trade was a 26.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Crisci purchased 20,000 shares of MasterBrand stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the transaction, the director now owns 66,435 shares of the company’s stock, 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 owned by corporate insiders.

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.