Teacher Retirement System of Texas Reduces Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Teacher Retirement System of Texas lessened its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 41.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,476 shares of the company's stock after selling 166,814 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.19% of MasterBrand worth $3,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MBC. Smartleaf Asset Management LLC grew its holdings in MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after purchasing an additional 1,549 shares during the period. Quest Partners LLC increased its holdings in MasterBrand by 33.3% in the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company's stock worth $61,000 after acquiring an additional 821 shares in the last quarter. Public Employees Retirement System of Ohio raised 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 acquiring an additional 1,216 shares during the period. KBC Group NV lifted its holdings in MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company's stock valued at $85,000 after purchasing an additional 1,983 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of MasterBrand by 39.9% in the third 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 period. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

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MasterBrand Price Performance

Shares of NYSE:MBC traded down $0.43 during trading on Friday, hitting $13.08. 646,062 shares of the company's stock were exchanged, compared to its average volume of 911,185. The business's 50-day simple moving average is $15.32 and its 200 day simple moving average is $16.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. MasterBrand, Inc. has a 52-week low of $12.68 and a 52-week high of $20.67. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 13.48 and a beta of 1.77.

MasterBrand (NYSE:MBC - Get Free Report) last released 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 company had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million.

MasterBrand declared that its Board of Directors has approved a share repurchase program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Loop Capital lowered their target price on shares of MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th.

Insider Activity

In other news, Director Juliana L. Chugg bought 6,989 shares of the stock in a transaction dated Monday, February 24th. The stock was purchased 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 $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Crisci purchased 20,000 shares of MasterBrand stock in a transaction that occurred on 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 transaction, the director now directly owns 66,435 shares of the company's stock, valued at $935,404.80. The trade was a 43.07 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.38% of the company's stock.

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.