Nuveen Asset Management LLC Has $5.12 Million Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Nuveen Asset Management LLC trimmed its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 350,103 shares of the company’s stock after selling 3,423 shares during the period. Nuveen Asset Management LLC owned about 0.28% of MasterBrand worth $5,115,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of MasterBrand by 23.1% during the 4th quarter. Bank of America Corp DE now owns 629,281 shares of the company’s stock worth $9,194,000 after buying an additional 117,940 shares during the last quarter. Empowered Funds LLC lifted its stake in MasterBrand by 5.1% in the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock valued at $9,503,000 after purchasing an additional 31,714 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in MasterBrand by 135.1% in 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 last quarter. Millennium Management LLC lifted its stake in MasterBrand by 220.9% in the 4th quarter. Millennium Management LLC now owns 462,409 shares of the company’s stock valued at $6,756,000 after purchasing an additional 318,298 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its stake in MasterBrand by 307.1% in the 4th quarter. Susquehanna International Group LLP now owns 130,490 shares of the company’s stock valued at $1,906,000 after purchasing an additional 98,439 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on MBC. Zelman & Associates reiterated an “underperform” rating on shares of MasterBrand in a research note on Monday, April 14th. Loop Capital cut their target price on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th.

MasterBrand Trading Down 0.6%

Shares of NYSE:MBC opened at $10.21 on Friday. The company has a market capitalization of $1.29 billion, a P/E ratio of 10.53 and a beta of 1.74. 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 52-week low of $9.63 and a 52-week high of $20.67. The company has a 50-day simple moving average of $11.52 and a 200 day simple moving average of $14.22.

MasterBrand (NYSE:MBC) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). The company had revenue of $660.30 million during the quarter, compared to the consensus estimate of $663.95 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand declared that its board has authorized 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 repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.