Voloridge Investment Management LLC Sells 272,516 Shares of MasterBrand, Inc. (NYSE:MBC)

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

Several other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in MasterBrand by 23.1% in the 4th quarter. Bank of America Corp DE now owns 629,281 shares of the company's stock worth $9,194,000 after purchasing an additional 117,940 shares in the last quarter. Empowered Funds LLC raised its holdings in MasterBrand by 5.1% in the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company's stock worth $9,503,000 after purchasing an additional 31,714 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in MasterBrand by 135.1% in the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company's stock worth $10,128,000 after purchasing an additional 398,303 shares in the last quarter. Millennium Management LLC raised its holdings in MasterBrand by 220.9% in the 4th quarter. Millennium Management LLC now owns 462,409 shares of the company's stock worth $6,756,000 after purchasing an additional 318,298 shares in the last quarter. Finally, Susquehanna International Group LLP raised its holdings in MasterBrand by 307.1% in the 4th quarter. Susquehanna International Group LLP now owns 130,490 shares of the company's stock worth $1,906,000 after purchasing an additional 98,439 shares in the last quarter. Hedge funds and other institutional investors own 87.32% of the company's stock.

Analyst Ratings Changes

MBC has been the subject of several research reports. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th. Loop Capital decreased their price target 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 Stock Down 0.6%

Shares of MasterBrand stock traded down $0.06 during trading on Friday, hitting $10.21. The company's stock had a trading volume of 954,189 shares, compared to its average volume of 982,720. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The company has a fifty day simple moving average of $11.52 and a two-hundred day simple moving average of $14.20. The company has a market capitalization of $1.29 billion, a PE ratio of 10.53 and a beta of 1.74. MasterBrand, Inc. has a 52 week low of $9.63 and a 52 week high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). The business had revenue of $660.30 million during the quarter, compared to the consensus estimate of $663.95 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its board has authorized 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 purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

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.