D. E. Shaw & Co. Inc. Reduces Holdings in MasterBrand, Inc. (NYSE:MBC)

D. E. Shaw & Co. Inc. decreased its holdings in MasterBrand, Inc. (NYSE:MBC - Free Report) by 25.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 601,498 shares of the company's stock after selling 203,546 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.47% of MasterBrand worth $8,788,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. CIBC Asset Management Inc increased its stake in shares of MasterBrand by 6.1% in the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after acquiring an additional 736 shares in the last quarter. Alliancebernstein L.P. grew its position in 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 grew its position in 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 purchasing an additional 1,549 shares during the last quarter. Nisa Investment Advisors LLC grew its position in MasterBrand by 4.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company's stock valued at $531,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in MasterBrand by 4.9% during the 4th quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock valued at $498,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 87.32% of the company's stock.

Insider Activity

In other news, Director Juliana L. Chugg acquired 6,989 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 33,424 shares of the company's stock, valued at approximately $473,618.08. This trade represents a 26.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Crisci acquired 20,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the transaction, the director now directly owns 66,435 shares in the company, valued at approximately $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. Insiders own 1.38% of the company's stock.

MasterBrand Stock Performance

Shares of NYSE MBC traded up $0.11 during trading on Friday, reaching $11.21. 757,873 shares of the company traded hands, compared to its average volume of 974,227. 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 stock has a market capitalization of $1.42 billion, a PE ratio of 11.55 and a beta of 1.74. The firm has a 50 day simple moving average of $12.18 and a 200-day simple moving average of $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 posted its quarterly earnings data 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 business had revenue of $660.30 million during the quarter, compared to analysts' expectations 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 has authorized a share repurchase plan on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

MBC has been the topic of several recent analyst reports. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital cut their price objective on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th.

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.