Ancora Advisors LLC Has $11.24 Million Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Ancora Advisors LLC lowered its position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 769,443 shares of the company's stock after selling 175,459 shares during the quarter. Ancora Advisors LLC owned 0.61% of MasterBrand worth $11,242,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MBC. Boston Partners increased its stake in MasterBrand by 82.2% during the 4th quarter. Boston Partners now owns 5,237,123 shares of the company's stock worth $76,558,000 after purchasing an additional 2,363,308 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in MasterBrand by 135.1% in the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company's stock worth $10,128,000 after purchasing an additional 398,303 shares during the period. Royce & Associates LP increased its holdings in MasterBrand by 97.0% during the 4th quarter. Royce & Associates LP now owns 724,161 shares of the company's stock worth $10,580,000 after purchasing an additional 356,506 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MasterBrand by 14.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company's stock valued at $35,122,000 after purchasing an additional 311,286 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of MasterBrand by 590.5% in the fourth quarter. Jane Street Group LLC now owns 322,883 shares of the company's stock valued at $4,717,000 after purchasing an additional 276,123 shares in the last quarter. Institutional investors own 87.32% of the company's stock.

MasterBrand Stock Performance

MasterBrand stock traded down $0.27 during mid-day trading on Tuesday, hitting $11.98. 958,110 shares of the company's stock traded hands, compared to its average volume of 935,442. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 12.35 and a beta of 1.74. The firm has a 50 day simple moving average of $12.67 and a two-hundred day simple moving average of $15.17. MasterBrand, Inc. has a fifty-two week low of $10.67 and a fifty-two week high of $20.67. 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 (NYSE:MBC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its Board of Directors has authorized a share buyback plan on Monday, March 17th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Juliana L. Chugg bought 6,989 shares of the firm's stock in a transaction on Monday, February 24th. The shares were purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Crisci purchased 20,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $14.08 per share, with a total value of $281,600.00. Following the acquisition, 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. Corporate insiders own 1.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Loop Capital dropped their target price on MasterBrand from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th.

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.