MasterBrand, Inc. (NYSE:MBC) Holdings Reduced by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC cut its stake in MasterBrand, Inc. (NYSE:MBC) by 7.5% in the 1st quarter, HoldingsChannel reports. The fund owned 11,090 shares of the company’s stock after selling 903 shares during the period. Sequoia Financial Advisors LLC’s holdings in MasterBrand were worth $145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. grew its position in MasterBrand by 0.5% in the fourth quarter. Alliancebernstein L.P. now owns 154,249 shares of the company’s stock worth $2,254,000 after buying an additional 804 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in MasterBrand by 36.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company’s stock worth $70,000 after purchasing an additional 1,286 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of MasterBrand by 150.7% during 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 period. HighTower Advisors LLC boosted its stake in shares of MasterBrand by 6.2% during the 4th quarter. HighTower Advisors LLC now owns 31,419 shares of the company’s stock valued at $459,000 after buying an additional 1,841 shares during the period. Finally, Swiss National Bank boosted its stake in shares of MasterBrand by 0.8% during the 4th quarter. Swiss National Bank now owns 250,000 shares of the company’s stock valued at $3,652,000 after buying an additional 1,900 shares during the period. 87.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MBC shares. Zelman & Associates restated an “underperform” rating on shares of MasterBrand in a report on Monday, April 14th. Loop Capital dropped their price objective on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th.

MasterBrand Price Performance

NYSE:MBC opened at $11.60 on Friday. The firm has a market cap of $1.47 billion, a PE ratio of 14.87 and a beta of 1.43. MasterBrand, Inc. has a 12 month low of $9.63 and a 12 month high of $20.67. The company has a quick ratio of 1.10, a current ratio of 1.90 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $10.77 and its two-hundred day moving average price is $13.17.

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). The company had revenue of $660.30 million for the quarter, compared to analyst estimates of $663.95 million. MasterBrand had a return on equity of 12.60% and a net margin of 3.74%.

MasterBrand announced that its Board of Directors has initiated a stock buyback program on Monday, March 17th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are 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.