State of Tennessee Department of Treasury Trims Position in MasterBrand, Inc. (NYSE:MBC)

State of Tennessee Department of Treasury decreased its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 32.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,557 shares of the company's stock after selling 34,956 shares during the period. State of Tennessee Department of Treasury owned about 0.06% of MasterBrand worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in MasterBrand by 150.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after buying an additional 1,549 shares during the last quarter. KBC Group NV increased its stake in shares of 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 acquiring an additional 1,983 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of MasterBrand during the fourth quarter worth $150,000. Cibc World Markets Corp purchased a new position in shares of MasterBrand during the fourth quarter worth $173,000. Finally, CIBC Asset Management Inc lifted 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 valued at $188,000 after purchasing an additional 736 shares during the period. Hedge funds and other institutional investors own 87.32% of the company's stock.

Insider Transactions at MasterBrand

In other news, Director Juliana L. Chugg bought 6,989 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were acquired at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Crisci purchased 20,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost 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 approximately $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. Corporate insiders own 1.38% of the company's stock.

MasterBrand Stock Performance

MBC stock traded down $1.32 during midday trading on Wednesday, hitting $10.66. 808,827 shares of the stock traded hands, compared to its average volume of 1,026,212. MasterBrand, Inc. has a 1-year low of $10.76 and a 1-year high of $20.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. The stock's fifty day simple moving average is $12.63 and its 200-day simple moving average is $15.14. The firm has a market cap of $1.35 billion, a P/E ratio of 10.99 and a beta of 1.74.

MasterBrand (NYSE:MBC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). The business had revenue of $660.30 million for the quarter, compared to analyst estimates of $663.95 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

MasterBrand announced that its board has approved a share buyback plan on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Loop Capital reduced their price objective on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th.

MasterBrand 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.