Sterling Capital Management LLC Sells 23,119 Shares of MasterBrand, Inc. (NYSE:MBC)

Sterling Capital Management LLC lowered its holdings in MasterBrand, Inc. (NYSE:MBC - Free Report) by 81.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,182 shares of the company's stock after selling 23,119 shares during the period. Sterling Capital Management LLC's holdings in MasterBrand were worth $76,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after acquiring an additional 1,549 shares during the last quarter. KBC Group NV raised its holdings in shares of MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after buying an additional 1,983 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of MasterBrand during the 4th quarter worth $150,000. Cibc World Markets Corp acquired a new stake in MasterBrand in the fourth quarter valued at about $173,000. Finally, CIBC Asset Management Inc grew its position in MasterBrand by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock valued at $188,000 after acquiring an additional 736 shares during the last quarter. Institutional investors and hedge funds own 87.32% of the company's stock.

MasterBrand Trading Down 1.0 %

NYSE MBC traded down $0.12 during trading hours on Tuesday, reaching $11.75. The company's stock had a trading volume of 71,493 shares, compared to its average volume of 929,660. 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, Inc. has a 52 week low of $10.84 and a 52 week high of $20.67. The firm has a fifty day simple moving average of $12.90 and a 200-day simple moving average of $15.39. The stock has a market cap of $1.50 billion, a P/E ratio of 12.09 and a beta of 1.70.

MasterBrand (NYSE:MBC - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.17). The company had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its Board of Directors has approved a share buyback plan on Monday, March 17th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Transactions at MasterBrand

In related news, Director Juliana L. Chugg acquired 6,989 shares of the stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the purchase, the director now directly owns 33,424 shares of the company's stock, valued at $473,618.08. The trade was a 26.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Crisci bought 20,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were bought 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 owns 66,435 shares of the company's stock, valued at $935,404.80. This represents 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zelman & Associates reaffirmed an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th. Loop Capital dropped their price target on MasterBrand from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Monday.

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.