Bank of Montreal Can Lowers Position in MasterBrand, Inc. (NYSE:MBC)

Bank of Montreal Can trimmed its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 92.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,365 shares of the company's stock after selling 227,490 shares during the period. Bank of Montreal Can's holdings in MasterBrand were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MBC. Smartleaf Asset Management LLC increased its stake in MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after acquiring an additional 1,549 shares during the last quarter. KBC Group NV increased its position in MasterBrand by 52.0% in the fourth quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after purchasing an additional 1,983 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in MasterBrand during the fourth quarter valued at $150,000. Cibc World Markets Corp bought a new position in MasterBrand during the fourth quarter valued at $173,000. Finally, CIBC Asset Management Inc grew its stake in shares of MasterBrand by 6.1% in the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after buying an additional 736 shares in the last quarter. 87.32% of the stock is owned by institutional investors.

MasterBrand Stock Down 1.6 %

Shares of MBC stock traded down $0.19 during mid-day trading on Wednesday, hitting $11.89. The stock had a trading volume of 74,889 shares, compared to its average volume of 929,706. MasterBrand, Inc. has a 12-month low of $10.84 and a 12-month high of $20.67. The firm's 50-day moving average is $12.85 and its two-hundred day moving average is $15.37. The firm has a market capitalization of $1.52 billion, a P/E ratio of 12.23 and a beta of 1.70. 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 issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.17). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $667.70 million for the quarter, compared to analysts' expectations of $722.85 million.

MasterBrand declared that its Board of Directors has approved a share buyback program on Monday, March 17th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity at MasterBrand

In related news, Director Robert Crisci bought 20,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $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 SEC, which is available through the SEC website. Also, Director Juliana L. Chugg acquired 6,989 shares of the business's stock in a transaction on Monday, February 24th. The shares were purchased at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the purchase, the director now owns 33,424 shares in the company, valued at $473,618.08. This represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is owned by insiders.

Analyst Ratings Changes

MBC has been the topic of several analyst reports. Loop Capital reduced their price objective on MasterBrand from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th.

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.