D. E. Shaw & Co. Inc. Sells 203,546 Shares of MasterBrand, Inc. (NYSE:MBC)

D. E. Shaw & Co. Inc. lessened its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 about 0.47% of MasterBrand worth $8,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MBC. Smartleaf Asset Management LLC grew its holdings in shares of 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. KBC Group NV boosted its position in shares of MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company's stock valued at $85,000 after purchasing an additional 1,983 shares in the last quarter. Caxton Associates LP acquired a new position in shares of MasterBrand during the 4th quarter valued at $148,000. Proficio Capital Partners LLC acquired a new position in MasterBrand during the 4th quarter worth approximately $150,000. Finally, Cetera Investment Advisers acquired a new stake in MasterBrand in the 4th quarter valued at $164,000. Institutional investors own 87.32% of the company's stock.

MasterBrand Trading Up 0.9%

NYSE:MBC traded up $0.10 during trading hours on Tuesday, reaching $11.10. The company's stock had a trading volume of 115,801 shares, compared to its average volume of 969,734. The firm has a 50-day simple moving average of $12.13 and a 200-day simple moving average of $14.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. MasterBrand, Inc. has a 1 year low of $9.78 and a 1 year high of $20.67. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.43 and a beta of 1.74.

MasterBrand (NYSE:MBC - Get Free Report) last issued 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 company had revenue of $660.30 million for the quarter, compared to analysts' expectations of $663.95 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 initiated a share repurchase program on Monday, March 17th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at MasterBrand

In related news, Director Juliana L. Chugg bought 6,989 shares of the firm's stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the purchase, the director now owns 33,424 shares in the company, valued at approximately $473,618.08. This represents a 26.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Crisci purchased 20,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $14.08 per share, with a total value 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 position. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MBC. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital lowered their price objective on MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th.

MasterBrand Company 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.