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

State of Tennessee Department of Treasury trimmed its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,557 shares of the company's stock after selling 34,956 shares during the quarter. 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 & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. MetLife Investment Management LLC increased its position in shares of MasterBrand by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 77,696 shares of the company's stock worth $1,135,000 after purchasing an additional 4,229 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of MasterBrand by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company's stock worth $72,709,000 after buying an additional 226,818 shares during the last quarter. Contrarian Capital Management L.L.C. purchased a new stake in shares of MasterBrand during the 4th quarter valued at $380,000. Walleye Capital LLC purchased a new stake in shares of MasterBrand during the 4th quarter valued at $196,000. Finally, Raymond James Financial Inc. bought a new stake in shares of MasterBrand during the 4th quarter worth $3,364,000. 87.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robert Crisci acquired 20,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was 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 $935,404.80. This trade represents a 43.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Juliana L. Chugg bought 6,989 shares of the company's stock in a transaction dated Monday, February 24th. The stock was bought at an average cost of $14.17 per share, with a total value of $99,034.13. Following the completion of the transaction, the director now owns 33,424 shares in the company, valued at approximately $473,618.08. This trade represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

MasterBrand Trading Down 2.6 %

MBC stock traded down $0.32 during trading on Tuesday, hitting $11.92. 380,841 shares of the company traded hands, compared to its average volume of 1,025,893. The company has a 50-day moving average of $12.67 and a 200-day moving average of $15.17. 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 1 year low of $10.84 and a 1 year high of $20.67. The firm has a market capitalization of $1.51 billion, a PE ratio of 12.29 and a beta of 1.74.

MasterBrand (NYSE:MBC - Get Free Report) last released 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 net margin of 4.66% and a return on equity of 13.89%. The company had revenue of $667.70 million for the quarter, compared to analysts' expectations of $722.85 million.

MasterBrand announced that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on MBC. Loop Capital decreased their price target on shares of MasterBrand from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th.

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.