MasterBrand, Inc. (NYSE:MBC) Stake Decreased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lessened its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 90.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,487 shares of the company's stock after selling 321,834 shares during the quarter. ExodusPoint Capital Management LP's holdings in MasterBrand were worth $518,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc increased its position in shares of MasterBrand by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after acquiring an additional 736 shares in the last quarter. Alliancebernstein L.P. grew its holdings in MasterBrand by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock valued at $2,254,000 after purchasing an additional 804 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake 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 buying an additional 1,216 shares during the period. TD Private Client Wealth LLC lifted its holdings in MasterBrand by 39.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company's stock worth $89,000 after buying an additional 1,364 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after buying an additional 1,549 shares during the last quarter. Hedge funds and other institutional investors own 87.32% of the company's stock.

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MasterBrand Stock Down 2.1 %

MBC traded down $0.25 during trading on Tuesday, hitting $11.59. The company had a trading volume of 1,093,298 shares, compared to its average volume of 927,839. MasterBrand, Inc. has a 1-year low of $10.84 and a 1-year 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 company has a market cap of $1.48 billion, a PE ratio of 11.94 and a beta of 1.70. The business has a 50-day moving average of $13.79 and a 200-day moving average of $15.80.

MasterBrand (NYSE:MBC - Get Free Report) last issued its earnings results 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 company had revenue of $667.70 million during the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand declared that its board has approved a stock buyback plan on Monday, March 17th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MBC shares. Loop Capital dropped their target price on MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a report on Monday.

Insiders Place Their Bets

In other MasterBrand news, Director Juliana L. Chugg bought 6,989 shares of the stock in a transaction on Monday, February 24th. The stock was purchased at an average price 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 in the company, valued at approximately $473,618.08. This trade represents a 26.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Crisci purchased 20,000 shares of MasterBrand stock in a transaction dated Friday, February 28th. The stock was acquired at an average price 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 in the company, valued at approximately $935,404.80. The trade was a 43.07 % increase in their position. 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.