MasterBrand, Inc. (NYSE:MBC) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 726,610 shares of the company's stock after selling 128,360 shares during the quarter. Prudential Financial Inc. owned approximately 0.57% of MasterBrand worth $10,616,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Smartleaf Asset Management LLC increased its stake in shares of MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after buying an additional 1,549 shares during the period. Quest Partners LLC lifted its position in MasterBrand by 33.3% in the third quarter. Quest Partners LLC now owns 3,285 shares of the company's stock valued at $61,000 after acquiring an additional 821 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of MasterBrand by 52.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company's stock valued at $66,000 after purchasing an additional 1,216 shares during the period. KBC Group NV boosted its stake in MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after purchasing an additional 1,983 shares during the period. Finally, TD Private Client Wealth LLC grew its position 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 purchasing an additional 1,364 shares during the last quarter. Institutional investors and hedge funds own 87.32% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, Director Juliana L. Chugg bought 6,989 shares of the firm's stock in a transaction on Monday, February 24th. The shares were bought at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the transaction, the director now owns 33,424 shares of the company's stock, valued at approximately $473,618.08. This trade represents a 26.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Crisci purchased 20,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was bought at an average price 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 approximately $935,404.80. This represents a 43.07 % 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.

MasterBrand Stock Performance

Shares of MBC stock traded up $0.12 during midday trading on Wednesday, hitting $13.12. The company had a trading volume of 60,713 shares, compared to its average volume of 1,055,758. MasterBrand, Inc. has a 52-week low of $12.68 and a 52-week 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's 50 day simple moving average is $15.07 and its 200 day simple moving average is $16.27. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 13.53 and a beta of 1.77.

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

MasterBrand declared that its Board of Directors has authorized a stock repurchase program on Monday, March 17th that authorizes the company to buyback $50.00 million in outstanding 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 management believes its stock is undervalued.

Wall Street Analyst Weigh In

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

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.