Two Sigma Advisers LP Lowers Holdings in MasterBrand, Inc. (NYSE:MBC)

Two Sigma Advisers LP cut its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 277,600 shares of the company's stock after selling 166,000 shares during the quarter. Two Sigma Advisers LP owned approximately 0.22% of MasterBrand worth $4,056,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after buying an additional 1,549 shares during the last quarter. KBC Group NV increased its stake in shares of MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after purchasing an additional 1,983 shares during the last quarter. Caxton Associates LP bought a new stake in shares of MasterBrand in the 4th quarter worth approximately $148,000. Proficio Capital Partners LLC bought a new stake in shares of MasterBrand in the 4th quarter worth approximately $150,000. Finally, Cetera Investment Advisers purchased a new position in MasterBrand in the fourth quarter valued at approximately $164,000. 87.32% of the stock is owned by hedge funds and other institutional investors.

MasterBrand Stock Performance

Shares of NYSE MBC traded down $0.12 during midday trading on Friday, hitting $10.15. The company's stock had a trading volume of 131,178 shares, compared to its average volume of 977,621. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.49 and a beta of 1.74. 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 fifty day moving average price of $11.58 and a 200 day moving average price of $14.28. MasterBrand, Inc. has a one year low of $9.63 and a one year high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 earnings per share 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 business had revenue of $660.30 million during the quarter, compared to analysts' expectations of $663.95 million.

MasterBrand declared that its Board of Directors has approved a stock repurchase program on Monday, March 17th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

MBC has been the subject of a number of recent research reports. Loop Capital decreased their target price on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th.

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.