MasterBrand, Inc. (NYSE:MBC) Position Lessened by Deutsche Bank AG

Deutsche Bank AG lowered its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 30.7% in the fourth quarter, HoldingsChannel reports. The firm owned 387,529 shares of the company’s stock after selling 171,563 shares during the quarter. Deutsche Bank AG’s holdings in MasterBrand were worth $5,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in 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. Franklin Resources Inc. grew its position in shares of MasterBrand by 2.3% during the third quarter. Franklin Resources Inc. now owns 82,457 shares of the company’s stock worth $1,491,000 after acquiring an additional 1,865 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of MasterBrand by 10.7% in the 4th quarter. Wedge Capital Management L L P NC now owns 77,896 shares of the company’s stock worth $1,138,000 after acquiring an additional 7,515 shares during the period. Nisa Investment Advisors LLC lifted its position in MasterBrand by 4.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company’s stock valued at $531,000 after purchasing an additional 1,561 shares during the last quarter. Finally, 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 valued at $85,000 after purchasing an additional 1,983 shares during the period. 87.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on MBC shares. Zelman & Associates restated an “underperform” rating on shares of MasterBrand in a research note on Monday, April 14th. Loop Capital decreased their price objective on MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 7th.

Insider Activity

In other news, Director Juliana L. Chugg purchased 6,989 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the purchase, the director now owns 33,424 shares in the company, valued at $473,618.08. This trade represents a 26.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, for a total transaction of $281,600.00. Following the completion of the transaction, the director now owns 66,435 shares in the company, valued at $935,404.80. This trade represents a 43.07% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company’s stock.

MasterBrand Price Performance

Shares of MBC opened at $11.21 on Monday. MasterBrand, Inc. has a one year low of $9.78 and a one year high of $20.67. The stock’s fifty day moving average is $12.18 and its 200-day moving average is $14.70. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.55 and a beta of 1.74.

MasterBrand (NYSE:MBC) last announced its earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). MasterBrand had a net margin of 4.66% and a return on equity of 13.89%. The company had revenue of $660.30 million during the quarter, compared to the consensus estimate of $663.95 million.

MasterBrand declared that its Board of Directors has authorized a stock buyback plan on Monday, March 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.