First Trust Advisors LP Has $2.85 Million Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

First Trust Advisors LP decreased its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 37.0% in the 4th quarter, according to its most recent disclosure with the Securities and 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 SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Contrarian Capital Management L.L.C. acquired a new position in shares of MasterBrand during the 4th quarter worth about $380,000. Walleye Capital LLC acquired a new position in MasterBrand during the fourth quarter valued at approximately $196,000. Raymond James Financial Inc. bought a new position in MasterBrand in the fourth quarter valued at approximately $3,364,000. Nixon Capital LLC increased its position in shares of MasterBrand by 1.9% during the 4th quarter. Nixon Capital LLC now owns 707,880 shares of the company's stock worth $10,342,000 after purchasing an additional 13,254 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of MasterBrand by 0.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,520,973 shares of the company's stock worth $22,221,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 87.32% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Robert Crisci purchased 20,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $14.08 per share, with a total value of $281,600.00. Following the completion of the purchase, the director now directly owns 66,435 shares in the company, valued at $935,404.80. This trade represents a 43.07 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Juliana L. Chugg acquired 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The shares were purchased at an average price of $14.17 per share, for a total transaction 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 approximately $473,618.08. This represents a 26.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by company insiders.

MasterBrand Stock Performance

Shares of NYSE MBC traded down $0.48 during midday trading on Friday, hitting $9.87. 1,829,920 shares of the company's stock were exchanged, compared to its average volume of 961,428. 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 firm has a market capitalization of $1.25 billion, a PE ratio of 10.18 and a beta of 1.74. MasterBrand, Inc. has a 12 month low of $9.78 and a 12 month high of $20.67. The company's 50 day moving average price is $12.43 and its 200 day moving average price is $14.97.

MasterBrand (NYSE:MBC - Get Free Report) last issued 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). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The firm had revenue of $660.30 million for the quarter, compared to the consensus estimate of $663.95 million.

MasterBrand declared that its Board of Directors has initiated a share repurchase plan on Monday, March 17th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is 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.