MasterBrand, Inc. (NYSE:MBC) Shares Sold by Ancora Advisors LLC

Ancora Advisors LLC lessened its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 769,443 shares of the company's stock after selling 175,459 shares during the period. Ancora Advisors LLC owned 0.61% of MasterBrand worth $11,242,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in shares of MasterBrand by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after buying an additional 736 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of MasterBrand by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock valued at $2,254,000 after purchasing an additional 804 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after acquiring an additional 1,549 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of 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 buying an additional 1,561 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in MasterBrand by 4.9% during the fourth quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock worth $498,000 after buying an additional 1,600 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MasterBrand news, Director Robert Crisci bought 20,000 shares of MasterBrand stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the purchase, the director now directly owns 66,435 shares of the company's stock, valued at approximately $935,404.80. This trade represents a 43.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Juliana L. Chugg purchased 6,989 shares of MasterBrand stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the transaction, the director now owns 33,424 shares in the company, valued at $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

Analysts Set New Price Targets

MBC has been the topic of several analyst reports. Zelman & Associates reaffirmed an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th. Loop Capital cut their target price on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday.

MasterBrand Trading Up 1.7 %

NYSE MBC traded up $0.17 during trading on Thursday, hitting $10.26. The stock had a trading volume of 1,195,864 shares, compared to its average volume of 950,572. The firm has a 50 day moving average price of $12.55 and a 200 day moving average price of $15.11. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.30 billion, a PE ratio of 10.58 and a beta of 1.74. MasterBrand, Inc. has a twelve month low of $9.99 and a twelve month high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). The firm had revenue of $660.30 million during the quarter, compared to analyst estimates of $663.95 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its board has authorized a share buyback program on Monday, March 17th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors 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.