MasterBrand, Inc. (NYSE:MBC) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC lowered its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 54.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,003 shares of the company's stock after selling 272,516 shares during the period. Voloridge Investment Management LLC owned approximately 0.18% of MasterBrand worth $3,317,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. CIBC Asset Management Inc boosted its position in shares of MasterBrand by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after purchasing an additional 736 shares during the period. Alliancebernstein L.P. raised its stake in 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 purchasing an additional 804 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after acquiring an additional 1,549 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of MasterBrand by 4.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company's stock valued at $531,000 after acquiring an additional 1,561 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in MasterBrand by 4.9% in the 4th quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock worth $498,000 after buying an additional 1,600 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.

MasterBrand Trading Down 0.6%

NYSE:MBC traded down $0.06 on Friday, reaching $10.21. 954,189 shares of the company's stock were exchanged, compared to its average volume of 980,888. MasterBrand, Inc. has a 52-week low of $9.63 and a 52-week high of $20.67. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.53 and a beta of 1.74. 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 business has a fifty day moving average of $11.58 and a 200-day moving average of $14.28.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $663.95 million.

MasterBrand announced that its Board of Directors has initiated a share repurchase program on Monday, March 17th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MBC shares. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a report 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 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.