MasterBrand, Inc. (NYSE:MBC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 11.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 594,359 shares of the company's stock after selling 73,746 shares during the period. Russell Investments Group Ltd. owned approximately 0.47% of MasterBrand worth $8,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MBC. Empowered Funds LLC lifted its stake in shares of MasterBrand by 5.1% in the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company's stock valued at $9,503,000 after purchasing an additional 31,714 shares during the last quarter. Barclays PLC raised its holdings in shares of MasterBrand by 262.4% in the third quarter. Barclays PLC now owns 234,160 shares of the company's stock valued at $4,341,000 after buying an additional 169,550 shares during the last quarter. EMG Holdings L.P. purchased a new stake in shares of MasterBrand during the fourth quarter worth approximately $2,865,000. Principal Financial Group Inc. raised its stake in shares of MasterBrand by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 685,752 shares of the company's stock worth $10,019,000 after buying an additional 25,222 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in MasterBrand by 7.6% in the third quarter. HighTower Advisors LLC now owns 29,578 shares of the company's stock valued at $543,000 after acquiring an additional 2,086 shares during the period. Hedge funds and other institutional investors own 87.32% of the company's stock.

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Insiders Place Their Bets

In other news, Director Juliana L. Chugg purchased 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, with a total value of $99,034.13. Following the purchase, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Crisci purchased 20,000 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $14.08 per share, with a total value of $281,600.00. Following the completion of the acquisition, the director now owns 66,435 shares of the company's stock, 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 company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Loop Capital reduced their price objective on shares of MasterBrand from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a research note on Monday.

MasterBrand Price Performance

Shares of NYSE:MBC traded down $0.25 during midday trading on Tuesday, hitting $11.59. 1,093,298 shares of the stock were exchanged, compared to its average volume of 927,839. MasterBrand, Inc. has a twelve month low of $10.84 and a twelve month high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average price of $13.79 and a 200-day moving average price of $15.80. The stock has a market cap of $1.48 billion, a P/E ratio of 11.94 and a beta of 1.70.

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

MasterBrand declared that its Board of Directors has authorized a stock buyback plan on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board 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.