Squarepoint Ops LLC Buys New Position in MasterBrand, Inc. (NYSE:MBC)

Squarepoint Ops LLC bought a new position in MasterBrand, Inc. (NYSE:MBC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 41,211 shares of the company's stock, valued at approximately $602,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CIBC Asset Management Inc grew its holdings in shares of MasterBrand by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock valued at $188,000 after buying an additional 736 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of MasterBrand by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock valued at $2,254,000 after buying an additional 804 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after buying an additional 1,549 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of MasterBrand by 4.9% during the fourth quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock valued at $498,000 after buying an additional 1,600 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of MasterBrand by 6.2% during the fourth quarter. HighTower Advisors LLC now owns 31,419 shares of the company's stock valued at $459,000 after buying an additional 1,841 shares in the last quarter. Hedge funds and other institutional investors own 87.32% of the company's stock.

Analysts Set New Price Targets

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

MasterBrand Stock Up 0.4%

MBC traded up $0.04 during trading on Thursday, reaching $10.29. 789,051 shares of the stock traded hands, compared to its average volume of 980,518. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 10.61 and a beta of 1.42. MasterBrand, Inc. has a fifty-two week low of $9.63 and a fifty-two week high of $20.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. The stock's 50-day simple moving average is $11.32 and its two-hundred day simple moving average is $14.10.

MasterBrand (NYSE:MBC - Get Free Report) last released 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 firm had revenue of $660.30 million for the quarter, compared to analyst estimates 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 has initiated a share repurchase plan on Monday, March 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

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.