Prudential Financial Inc. Sells 128,360 Shares of MasterBrand, Inc. (NYSE:MBC)

Prudential Financial Inc. lessened its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 726,610 shares of the company’s stock after selling 128,360 shares during the quarter. Prudential Financial Inc. owned approximately 0.57% of MasterBrand worth $10,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Boston Partners increased its holdings in shares of MasterBrand by 82.2% during the 4th quarter. Boston Partners now owns 5,237,123 shares of the company’s stock worth $76,558,000 after acquiring an additional 2,363,308 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of MasterBrand by 3.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company’s stock valued at $74,264,000 after purchasing an additional 156,993 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MasterBrand by 4.2% in the third quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company’s stock valued at $63,053,000 after purchasing an additional 135,693 shares during the period. Pzena Investment Management LLC lifted its stake in shares of MasterBrand by 0.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company’s stock worth $41,608,000 after buying an additional 9,169 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of MasterBrand by 14.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company’s stock worth $35,122,000 after buying an additional 311,286 shares during the period. Institutional investors own 87.32% of the company’s stock.

MasterBrand Stock Performance

MBC opened at $13.08 on Friday. 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 business has a fifty day simple moving average of $15.24 and a 200 day simple moving average of $16.31. MasterBrand, Inc. has a 1 year low of $12.68 and a 1 year high of $20.67. The company has a market capitalization of $1.67 billion, a PE ratio of 13.48 and a beta of 1.77.

MasterBrand (NYSE:MBC) last announced its earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $667.70 million during the quarter, compared to the consensus estimate of $722.85 million.

MasterBrand announced that its Board of Directors has initiated a share repurchase program on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Juliana L. Chugg acquired 6,989 shares of the company’s stock in a transaction on Monday, February 24th. The stock was purchased at an average cost of $14.17 per share, with a total value of $99,034.13. Following the acquisition, the director now directly owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. The trade was a 26.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Crisci bought 20,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $14.08 per share, with a total value of $281,600.00. Following the completion of the transaction, the director now owns 66,435 shares in the company, valued at approximately $935,404.80. This trade represents a 43.07 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.38% of the company’s stock.

Analysts Set New Price Targets

Separately, Loop Capital cut their price objective on shares of MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th.

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.