Geode Capital Management LLC Sells 461,519 Shares of MasterBrand, Inc. (NYSE:MBC)

Geode Capital Management LLC cut its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 13.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,938,847 shares of the company's stock after selling 461,519 shares during the quarter. Geode Capital Management LLC owned about 2.31% of MasterBrand worth $42,947,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after purchasing an additional 1,549 shares during the last quarter. Public Employees Retirement System of Ohio lifted 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 valued at $66,000 after acquiring an additional 1,216 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of MasterBrand by 39.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company's stock valued at $89,000 after acquiring an additional 1,364 shares during the last quarter. KBC Group NV grew its stake in shares of MasterBrand by 52.0% in the fourth quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after acquiring an additional 1,983 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in MasterBrand during the fourth quarter valued at approximately $150,000. Hedge funds and other institutional investors own 87.32% of the company's stock.

MasterBrand Stock Performance

NYSE:MBC traded up $0.24 during mid-day trading on Friday, hitting $11.63. 846,558 shares of the company traded hands, compared to its average volume of 933,998. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. The stock's fifty day moving average price is $13.48 and its 200-day moving average price is $15.66. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 11.99 and a beta of 1.70. MasterBrand, Inc. has a one year low of $10.84 and a one year high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $722.85 million.

MasterBrand announced that its Board of Directors has initiated a share 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 typically a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MBC. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th. 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.

Insiders Place Their Bets

In other MasterBrand news, Director Juliana L. Chugg bought 6,989 shares of the business's stock in a transaction dated Monday, February 24th. The shares were purchased at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now owns 33,424 shares in the company, valued at $473,618.08. This represents a 26.44 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Crisci purchased 20,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $14.08 per share, with a total value of $281,600.00. Following the completion of the purchase, the director now directly owns 66,435 shares in the company, valued at $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 corporate insiders.

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.