Bank of Montreal Can Has $283,000 Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Bank of Montreal Can cut its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 92.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,365 shares of the company's stock after selling 227,490 shares during the period. Bank of Montreal Can's holdings in MasterBrand were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised 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. KBC Group NV lifted its position 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 purchasing an additional 1,983 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in MasterBrand during the fourth quarter worth $150,000. Cibc World Markets Corp acquired a new stake in MasterBrand in the 4th quarter valued at $173,000. Finally, CIBC Asset Management Inc boosted its stake 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 last quarter. Institutional investors and hedge funds own 87.32% of the company's stock.

MasterBrand Stock Performance

Shares of MBC stock traded up $0.16 during trading on Tuesday, reaching $12.03. 223,465 shares of the company's stock were exchanged, compared to its average volume of 930,324. The firm's fifty day moving average price is $12.90 and its 200-day moving average price is $15.39. MasterBrand, Inc. has a twelve month low of $10.84 and a twelve month high of $20.67. The stock has a market capitalization of $1.54 billion, a PE ratio of 12.42 and a beta of 1.70. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78.

MasterBrand (NYSE:MBC - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.17). The company had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand declared that its board has approved a share repurchase program on Monday, March 17th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Activity at MasterBrand

In related news, Director Robert Crisci purchased 20,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price 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. This trade represents a 43.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Juliana L. Chugg acquired 6,989 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on MBC. Loop Capital lowered their price target on MasterBrand from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th.

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.