228,545 Shares in MasterBrand, Inc. (NYSE:MBC) Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. purchased a new stake in MasterBrand, Inc. (NYSE:MBC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 228,545 shares of the company's stock, valued at approximately $3,339,000. Balyasny Asset Management L.P. owned approximately 0.18% of MasterBrand as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners grew its position in shares of MasterBrand by 82.2% in the 4th quarter. Boston Partners now owns 5,237,123 shares of the company's stock valued at $76,558,000 after acquiring an additional 2,363,308 shares during the period. Thrivent Financial for Lutherans grew its position in shares of MasterBrand by 3.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company's stock valued at $74,264,000 after acquiring an additional 156,993 shares during the period. Dimensional Fund Advisors LP grew its position in shares of MasterBrand by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company's stock valued at $72,709,000 after acquiring an additional 226,818 shares during the period. Pzena Investment Management LLC grew its position in shares of MasterBrand by 0.3% in the 4th quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company's stock valued at $41,608,000 after acquiring an additional 9,169 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 311,286 shares during the period. Institutional investors own 87.32% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on MBC shares. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital reduced their target price on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 7th.

Insider Buying and Selling

In other news, Director Robert Crisci bought 20,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the transaction, the director now owns 66,435 shares of the company's stock, valued at $935,404.80. This represents a 43.07% 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 Juliana L. Chugg bought 6,989 shares of the company's stock in a transaction dated Monday, February 24th. The stock was purchased at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the transaction, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. This represents a 26.44% increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by insiders.

MasterBrand Stock Performance

Shares of MBC stock traded up $0.11 during midday trading on Friday, hitting $11.21. 757,873 shares of the company were exchanged, compared to its average volume of 974,227. The firm has a market capitalization of $1.42 billion, a P/E ratio of 11.55 and a beta of 1.74. 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's 50 day moving average price is $12.18 and its two-hundred day moving average price is $14.72. MasterBrand, Inc. has a 52 week low of $9.78 and a 52 week high of $20.67.

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

MasterBrand declared that its Board of Directors has approved a stock repurchase plan on Monday, March 17th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management 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.