Arrowstreet Capital Limited Partnership Has $7.77 Million Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Arrowstreet Capital Limited Partnership reduced its position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 54.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 531,513 shares of the company's stock after selling 635,742 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.42% of MasterBrand worth $7,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MBC. CIBC Asset Management Inc grew its position in shares of MasterBrand by 6.1% during the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after buying an additional 736 shares during the period. Public Employees Retirement System of Ohio grew its holdings in MasterBrand by 52.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company's stock worth $66,000 after acquiring an additional 1,216 shares during the period. TD Private Client Wealth LLC grew its holdings in MasterBrand by 39.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company's stock worth $89,000 after acquiring an additional 1,364 shares during the period. Smartleaf Asset Management LLC grew its holdings in MasterBrand by 150.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after acquiring an additional 1,549 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of MasterBrand by 4.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company's stock valued at $531,000 after purchasing an additional 1,561 shares during the period. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MasterBrand news, Director Juliana L. Chugg purchased 6,989 shares of the business's stock in a transaction on Monday, February 24th. The stock was acquired at an average price of $14.17 per share, with a total value of $99,034.13. Following the acquisition, the director now directly owns 33,424 shares of the company's stock, valued at $473,618.08. This trade represents a 26.44 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Crisci bought 20,000 shares of MasterBrand stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $14.08 per share, with a total value of $281,600.00. Following the acquisition, the director now directly owns 66,435 shares in the company, valued at $935,404.80. This trade represents a 43.07 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Loop Capital reduced their target price on MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th.

MasterBrand Stock Up 3.8 %

MBC traded up $0.44 during trading on Friday, reaching $12.20. The company had a trading volume of 1,351,295 shares, compared to its average volume of 923,989. The company has a market cap of $1.56 billion, a P/E ratio of 12.58 and a beta of 1.70. MasterBrand, Inc. has a 12 month low of $10.84 and a 12 month high of $20.67. 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 business's fifty day moving average price is $14.01 and its 200 day moving average price is $15.88.

MasterBrand (NYSE:MBC - Get Free Report) 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). The firm had revenue of $667.70 million during 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 initiated a stock buyback program on Monday, March 17th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

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.