Russell Investments Group Ltd. Has $8.68 Million Stake in MasterBrand, Inc. (NYSE:MBC)

Russell Investments Group Ltd. cut its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,359 shares of the company's stock after selling 73,746 shares during the quarter. Russell Investments Group Ltd. owned about 0.47% of MasterBrand worth $8,684,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MBC. CIBC Asset Management Inc boosted its position in MasterBrand by 6.1% during 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 period. Alliancebernstein L.P. lifted its position in MasterBrand by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock worth $2,254,000 after acquiring an additional 804 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of MasterBrand by 52.4% during the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company's stock worth $66,000 after acquiring an additional 1,216 shares during the period. TD Private Client Wealth LLC grew its position in shares of MasterBrand by 39.9% in the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company's stock valued at $89,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of MasterBrand by 150.7% during 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 period. Institutional investors and hedge funds own 87.32% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Loop Capital lowered their price objective on MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Zelman & Associates reaffirmed an "underperform" rating on shares of MasterBrand in a research report on Monday.

Insider Transactions at MasterBrand

In related news, Director Robert Crisci bought 20,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $14.08 per share, with a total value of $281,600.00. Following the completion of the acquisition, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Juliana L. Chugg purchased 6,989 shares of the firm's stock in a transaction that occurred 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 acquisition, the director now directly owns 33,424 shares in the company, valued at $473,618.08. The trade was 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.

MasterBrand Price Performance

Shares of NYSE:MBC traded up $0.24 during trading on Friday, reaching $11.63. 846,558 shares of the company traded hands, compared to its average volume of 931,473. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. MasterBrand, Inc. has a 52 week low of $10.84 and a 52 week high of $20.67. The firm has a market capitalization of $1.48 billion, a PE ratio of 11.99 and a beta of 1.70. The company's 50 day moving average is $13.58 and its two-hundred day moving average is $15.72.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million.

MasterBrand announced that its board has authorized a stock buyback program on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management 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.