MasterBrand, Inc. (NYSE:MBC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 41.3% in the fourth quarter, HoldingsChannel reports. The firm owned 237,476 shares of the company’s stock after selling 166,814 shares during the quarter. Teacher Retirement System of Texas’ holdings in MasterBrand were worth $3,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MBC. Boston Partners lifted its stake in MasterBrand by 82.2% in the fourth quarter. Boston Partners now owns 5,237,123 shares of the company’s stock valued at $76,558,000 after buying an additional 2,363,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MasterBrand by 58.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,425,966 shares of the company’s stock worth $26,437,000 after acquiring an additional 528,537 shares during the period. Royce & Associates LP lifted its position in MasterBrand by 97.0% in the 4th quarter. Royce & Associates LP now owns 724,161 shares of the company’s stock valued at $10,580,000 after purchasing an additional 356,506 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in MasterBrand by 18.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock worth $38,799,000 after purchasing an additional 330,874 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of MasterBrand in the fourth quarter valued at approximately $3,364,000. 87.32% of the stock is currently owned by institutional investors.

Insider Activity at MasterBrand

In other news, Director Robert Crisci purchased 20,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $14.08 per share, with a total value of $281,600.00. Following the purchase, the director now owns 66,435 shares in the company, valued at $935,404.80. This trade represents a 43.07 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Juliana L. Chugg acquired 6,989 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. This represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MasterBrand Price Performance

Shares of MBC opened at $13.74 on Tuesday. MasterBrand, Inc. has a one year low of $12.68 and a one year high of $20.67. The stock’s fifty day moving average is $15.50 and its 200-day moving average is $16.38. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 14.16 and a beta of 1.77.

MasterBrand (NYSE:MBC) last released 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 net margin of 4.66% and a return on equity of 13.89%.

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

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.