Deutsche Bank AG Sells 171,563 Shares of MasterBrand, Inc. (NYSE:MBC)

Deutsche Bank AG reduced its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 387,529 shares of the company's stock after selling 171,563 shares during the period. Deutsche Bank AG owned 0.30% of MasterBrand worth $5,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MBC. Barclays PLC lifted its stake in shares of MasterBrand by 262.4% in the 3rd quarter. Barclays PLC now owns 234,160 shares of the company's stock worth $4,341,000 after acquiring an additional 169,550 shares during the period. Franklin Resources Inc. lifted its stake in MasterBrand by 2.3% during the third quarter. Franklin Resources Inc. now owns 82,457 shares of the company's stock valued at $1,491,000 after purchasing an additional 1,865 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in MasterBrand by 10.7% during the fourth quarter. Wedge Capital Management L L P NC now owns 77,896 shares of the company's stock valued at $1,138,000 after purchasing an additional 7,515 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in MasterBrand by 4.5% during the fourth 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, KBC Group NV lifted its stake in MasterBrand by 52.0% during the fourth 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 during the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

MasterBrand Trading Down 1.3%

Shares of MBC stock traded down $0.13 during trading hours on Thursday, reaching $9.97. 1,291,551 shares of the stock traded hands, compared to its average volume of 977,213. MasterBrand, Inc. has a 1-year low of $9.78 and a 1-year high of $20.67. The business has a fifty day moving average price of $12.02 and a 200 day moving average price of $14.60. 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 firm has a market capitalization of $1.26 billion, a PE ratio of 10.28 and a beta of 1.74.

MasterBrand (NYSE:MBC - Get Free Report) last released its quarterly earnings results 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). MasterBrand had a net margin of 4.66% and a return on equity of 13.89%. The firm had revenue of $660.30 million for the quarter, compared to analyst estimates of $663.95 million.

MasterBrand declared that its board has authorized a stock buyback plan on Monday, March 17th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, Director Robert Crisci acquired 20,000 shares of the company's stock in a transaction on 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 purchase, the director now owns 66,435 shares in the company, valued at $935,404.80. This represents a 43.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Juliana L. Chugg acquired 6,989 shares of the company's stock in a transaction on Monday, February 24th. The stock was bought at an average price 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 trade represents a 26.44% increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is owned by company insiders.

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.