Schonfeld Strategic Advisors LLC Boosts Stake in MasterBrand, Inc. (NYSE:MBC)

Schonfeld Strategic Advisors LLC lifted its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 109.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,700 shares of the company’s stock after acquiring an additional 21,780 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in MasterBrand were worth $609,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Empowered Funds LLC increased its holdings in MasterBrand by 5.1% during the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock worth $9,503,000 after purchasing an additional 31,714 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in MasterBrand by 135.1% in the fourth quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company’s stock valued at $10,128,000 after acquiring an additional 398,303 shares in the last quarter. Barclays PLC boosted its stake in MasterBrand by 262.4% during the 3rd quarter. Barclays PLC now owns 234,160 shares of the company’s stock valued at $4,341,000 after acquiring an additional 169,550 shares during the last quarter. EMG Holdings L.P. bought a new stake in shares of MasterBrand in the 4th quarter worth about $2,865,000. Finally, Principal Financial Group Inc. raised its stake in shares of MasterBrand by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 685,752 shares of the company’s stock valued at $10,019,000 after purchasing an additional 25,222 shares in the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.

MasterBrand Stock Down 4.6 %

Shares of NYSE:MBC opened at $9.87 on Friday. The company’s fifty day moving average is $12.43 and its two-hundred day moving average is $14.99. 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 $9.78 and a 1-year high of $20.67. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.18 and a beta of 1.74.

MasterBrand (NYSE:MBC) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The business had revenue of $660.30 million for the quarter, compared to analyst estimates of $663.95 million.

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

Analyst Ratings Changes

A number of equities analysts recently commented on MBC shares. Loop Capital decreased their price target on MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Zelman & Associates reiterated an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th.

Insider Activity at MasterBrand

In other news, Director Robert Crisci purchased 20,000 shares of MasterBrand stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $14.08 per share, with a total value of $281,600.00. Following the completion of the acquisition, the director now owns 66,435 shares in the company, valued at $935,404.80. The trade was a 43.07 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Juliana L. Chugg acquired 6,989 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, 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 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.