ExodusPoint Capital Management LP Sells 321,834 Shares of MasterBrand, Inc. (NYSE:MBC)

ExodusPoint Capital Management LP trimmed its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 90.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,487 shares of the company's stock after selling 321,834 shares during the period. ExodusPoint Capital Management LP's holdings in MasterBrand were worth $518,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Boston Partners boosted its stake in MasterBrand by 82.2% during the fourth quarter. Boston Partners now owns 5,237,123 shares of the company's stock valued at $76,558,000 after buying an additional 2,363,308 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in MasterBrand by 135.1% in the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company's stock valued at $10,128,000 after buying an additional 398,303 shares during the last quarter. Royce & Associates LP increased its position in MasterBrand by 97.0% in the 4th quarter. Royce & Associates LP now owns 724,161 shares of the company's stock worth $10,580,000 after buying an additional 356,506 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of MasterBrand by 14.9% in the fourth 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. Finally, Norges Bank acquired a new stake in shares of MasterBrand in the fourth quarter worth $3,433,000. 87.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on MBC. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a report on Monday. Loop Capital reduced their target price on MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th.

MasterBrand Price Performance

Shares of MasterBrand stock traded up $0.24 during trading on Friday, reaching $11.63. The company's stock had a trading volume of 846,558 shares, compared to its average volume of 931,473. MasterBrand, Inc. has a one year low of $10.84 and a one year high of $20.67. The stock has a 50-day moving average price of $13.58 and a two-hundred day moving average price of $15.72. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.48 billion, a P/E ratio of 11.99 and a beta of 1.70.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.17). The company had revenue of $667.70 million during the quarter, compared to analyst estimates of $722.85 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 stock repurchase plan on Monday, March 17th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity at MasterBrand

In other MasterBrand news, Director Juliana L. Chugg bought 6,989 shares of the firm's stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now owns 33,424 shares in the company, valued at approximately $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Crisci bought 20,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $14.08 per share, with a total value of $281,600.00. Following the completion of the purchase, the director now owns 66,435 shares in the company, valued at $935,404.80. This 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 company insiders.

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.