First Trust Advisors LP Trims Holdings in MasterBrand, Inc. (NYSE:MBC)

First Trust Advisors LP cut its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,890 shares of the company's stock after selling 114,481 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of MasterBrand worth $2,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of MasterBrand by 150.7% during the 4th 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. KBC Group NV lifted its position in shares of MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after acquiring an additional 1,983 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of MasterBrand in the fourth quarter worth $150,000. Cibc World Markets Corp purchased a new position in shares of MasterBrand in the fourth quarter valued at $173,000. Finally, CIBC Asset Management Inc raised its stake in shares of MasterBrand by 6.1% during the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock valued at $188,000 after purchasing an additional 736 shares during the period. Institutional investors own 87.32% of the company's stock.

Analyst Upgrades and Downgrades

MBC has been the topic of several analyst reports. Loop Capital decreased their price target on MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th.

Insider Transactions at MasterBrand

In other MasterBrand news, Director Robert Crisci acquired 20,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the acquisition, the director now owns 66,435 shares in the company, valued at $935,404.80. The trade was a 43.07 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Juliana L. Chugg purchased 6,989 shares of the stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now directly owns 33,424 shares of the company's stock, valued at $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

MasterBrand Price Performance

NYSE MBC traded down $1.87 during trading on Wednesday, reaching $10.11. The company's stock had a trading volume of 4,279,800 shares, compared to its average volume of 948,608. The firm has a fifty day moving average of $12.55 and a 200 day moving average of $15.11. MasterBrand, Inc. has a one year low of $10.04 and a one year high of $20.67. The stock has a market capitalization of $1.28 billion, a PE ratio of 10.42 and a beta of 1.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02.

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). The company 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 of Directors has authorized a stock buyback plan on Monday, March 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is 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.