MasterBrand, Inc. (NYSE:MBC) Shares Sold by Claret Asset Management Corp

Claret Asset Management Corp cut its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 7.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,309 shares of the company’s stock after selling 3,210 shares during the period. Claret Asset Management Corp’s holdings in MasterBrand were worth $545,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc lifted its stake in shares of MasterBrand by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock worth $188,000 after buying an additional 736 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in MasterBrand by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 154,249 shares of the company’s stock worth $2,254,000 after buying an additional 804 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in MasterBrand by 52.4% in the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock valued at $66,000 after purchasing an additional 1,216 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock valued at $37,000 after buying an additional 1,549 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in MasterBrand by 4.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 36,361 shares of the company’s stock worth $531,000 after acquiring an additional 1,561 shares in the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

MasterBrand Stock Performance

NYSE MBC opened at $11.63 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. MasterBrand, Inc. has a 12-month low of $10.84 and a 12-month high of $20.67. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.99 and a beta of 1.70. The business’s 50 day moving average is $13.48 and its two-hundred day moving average is $15.67.

MasterBrand (NYSE:MBC) last announced its quarterly 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). 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 analysts’ expectations of $722.85 million.

MasterBrand declared that its board has approved a stock buyback plan on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Loop Capital cut their price target on MasterBrand from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Zelman & Associates reaffirmed an “underperform” rating on shares of MasterBrand in a report on Monday, April 14th.

Insider Transactions at MasterBrand

In other news, Director Juliana L. Chugg bought 6,989 shares of MasterBrand stock in a transaction dated Monday, February 24th. The shares were acquired 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Crisci bought 20,000 shares of the business’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 completion of the transaction, the director now owns 66,435 shares in the company, 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. Insiders own 1.38% of the company’s stock.

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.