Jane Street Group LLC Increases Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Jane Street Group LLC grew its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 590.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 322,883 shares of the company's stock after purchasing an additional 276,123 shares during the period. Jane Street Group LLC owned about 0.25% of MasterBrand worth $4,717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position 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 acquiring an additional 1,549 shares during the last quarter. KBC Group NV boosted its position in shares of MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company's stock valued at $85,000 after acquiring an additional 1,983 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of MasterBrand during the 4th quarter valued at about $150,000. Cibc World Markets Corp acquired a new position in shares of MasterBrand during the 4th quarter valued at about $173,000. Finally, CIBC Asset Management Inc boosted its position 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 acquiring an additional 736 shares during the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Stock Up 1.4%

MBC traded up $0.15 during trading hours on Friday, hitting $11.25. 147,721 shares of the company's stock were exchanged, compared to its average volume of 967,689. MasterBrand, Inc. has a 12-month low of $9.78 and a 12-month high of $20.67. The firm has a 50 day moving average of $12.22 and a 200 day moving average of $14.79. The firm has a market cap of $1.43 billion, a P/E ratio of 11.59 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.

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 analysts' consensus estimates of $0.23 by ($0.05). The firm had revenue of $660.30 million during the quarter, compared to analysts' expectations of $663.95 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand declared that its board has initiated a stock repurchase plan on Monday, March 17th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at MasterBrand

In related news, Director Juliana L. Chugg purchased 6,989 shares of the company's stock in a transaction on Monday, February 24th. The shares were bought at an average cost 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 trade represents a 26.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Crisci purchased 20,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was bought at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the purchase, the director now directly owns 66,435 shares of the company's stock, valued at $935,404.80. The trade was a 43.07% 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 insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MBC. Zelman & Associates reaffirmed an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital lowered their price objective on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th.

About MasterBrand

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.