Arrowstreet Capital Limited Partnership Reduces Position in MasterBrand, Inc. (NYSE:MBC)

Arrowstreet Capital Limited Partnership lowered its position in MasterBrand, Inc. (NYSE:MBC) by 54.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 531,513 shares of the company’s stock after selling 635,742 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.42% of MasterBrand worth $7,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its position in MasterBrand by 150.7% in the 4th 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 last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of MasterBrand by 52.4% in the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock valued at $66,000 after buying an additional 1,216 shares during the last quarter. KBC Group NV boosted its stake in shares of MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company’s stock worth $85,000 after buying an additional 1,983 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of MasterBrand by 39.9% during the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock worth $89,000 after buying an additional 1,364 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in MasterBrand in the 4th quarter valued at about $150,000. 87.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Loop Capital decreased their price objective on MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th.

Insider Buying and Selling at MasterBrand

In other MasterBrand news, Director Juliana L. Chugg purchased 6,989 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the purchase, the director now directly owns 33,424 shares in the company, valued at $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Crisci acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the acquisition, the director now directly owns 66,435 shares of the company’s stock, valued at $935,404.80. This trade 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 owned by corporate insiders.

MasterBrand Stock Performance

NYSE:MBC opened at $12.48 on Monday. 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 firm has a market cap of $1.59 billion, a price-to-earnings ratio of 12.87 and a beta of 1.70. The firm’s fifty day moving average price is $14.80 and its 200 day moving average price is $16.17. MasterBrand, Inc. has a 1-year low of $11.64 and a 1-year high of $20.67.

MasterBrand (NYSE:MBC) last issued its earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.17). The firm had revenue of $667.70 million during the quarter, compared to analysts’ expectations of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand announced that its Board of Directors has approved a stock buyback plan on Monday, March 17th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.