MasterBrand, Inc. (NYSE:MBC) Shares Purchased by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP grew its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 176.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,966 shares of the company's stock after acquiring an additional 45,917 shares during the quarter. Occudo Quantitative Strategies LP owned about 0.06% of MasterBrand worth $1,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in shares of MasterBrand by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after purchasing an additional 736 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of MasterBrand by 0.5% in the fourth quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock worth $2,254,000 after purchasing an additional 804 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after purchasing an additional 1,549 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of MasterBrand by 4.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company's stock worth $531,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of MasterBrand by 4.9% in the fourth quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock worth $498,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 87.32% of the company's stock.

MasterBrand Stock Up 0.9%

MasterBrand stock traded up $0.11 during midday trading on Friday, hitting $11.21. 757,873 shares of the company's stock were exchanged, compared to its average volume of 971,883. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. 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 $12.18 and a two-hundred day moving average of $14.75. The company has a market cap of $1.42 billion, a PE ratio of 11.55 and a beta of 1.74.

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

MasterBrand declared that its board has authorized a stock repurchase plan on Monday, March 17th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Loop Capital cut their price target on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Zelman & Associates restated an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th.

Insiders Place Their Bets

In other news, Director Robert Crisci purchased 20,000 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired 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 of the company's stock, valued at approximately $935,404.80. This represents a 43.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Juliana L. Chugg purchased 6,989 shares of the stock in a transaction dated Monday, February 24th. The stock was purchased at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the acquisition, the director now directly owns 33,424 shares in the company, valued at approximately $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 company insiders.

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.