State of Alaska Department of Revenue Lowers Position in MasterBrand, Inc. (NYSE:MBC)

State of Alaska Department of Revenue lessened its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,427 shares of the company’s stock after selling 1,809 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of MasterBrand worth $919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gates Capital Management Inc. lifted its stake in shares of MasterBrand by 7.5% during the 4th quarter. Gates Capital Management Inc. now owns 9,489,578 shares of the company’s stock worth $138,643,000 after acquiring an additional 658,807 shares during the last quarter. Boston Partners raised its stake in shares of MasterBrand by 82.2% in the fourth quarter. Boston Partners now owns 5,237,123 shares of the company’s stock worth $76,558,000 after purchasing an additional 2,363,308 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in MasterBrand by 3.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company’s stock valued at $74,264,000 after purchasing an additional 156,993 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of MasterBrand by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company’s stock valued at $72,709,000 after purchasing an additional 226,818 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in MasterBrand by 0.3% in the fourth quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company’s stock valued at $41,608,000 after purchasing an additional 9,169 shares during the period. 87.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MBC has been the subject of several recent research reports. Loop Capital reduced their price objective on MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Zelman & Associates reaffirmed an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th.

MasterBrand Stock Up 1.0%

MBC stock opened at $10.86 on Friday. The company’s 50 day moving average is $10.79 and its two-hundred day moving average is $13.37. The stock has a market cap of $1.38 billion, a P/E ratio of 13.92 and a beta of 1.42. MasterBrand, Inc. has a twelve month low of $9.63 and a twelve month high of $20.67. The company has a current ratio of 1.90, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81.

MasterBrand (NYSE:MBC) last announced its 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). MasterBrand had a return on equity of 12.60% and a net margin of 3.74%. The business had revenue of $660.30 million for the quarter, compared to analyst estimates of $663.95 million.

MasterBrand announced that its board has approved a share repurchase plan on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board 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.