Prudential Financial Inc. Has $10.62 Million Stock Position in MasterBrand, Inc. (NYSE:MBC)

Prudential Financial Inc. lessened its holdings in MasterBrand, Inc. (NYSE:MBC) by 15.0% during the fourth quarter, HoldingsChannel reports. The firm owned 726,610 shares of the company’s stock after selling 128,360 shares during the quarter. Prudential Financial Inc.’s holdings in MasterBrand were worth $10,616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in MasterBrand in the fourth quarter valued at about $294,000. KLP Kapitalforvaltning AS acquired a new stake in shares of MasterBrand in the 4th quarter valued at approximately $409,000. AXQ Capital LP bought a new stake in shares of MasterBrand during the 4th quarter valued at approximately $244,000. American Century Companies Inc. increased its position in MasterBrand by 7.5% during the 4th quarter. American Century Companies Inc. now owns 315,622 shares of the company’s stock worth $4,611,000 after purchasing an additional 22,034 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in MasterBrand in the fourth quarter valued at approximately $515,000. Institutional investors own 87.32% of the company’s stock.

Insiders Place Their Bets

In related news, Director Juliana L. Chugg bought 6,989 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average price of $14.17 per share, with a total value of $99,034.13. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Crisci purchased 20,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $14.08 per share, with a total value of $281,600.00. Following the completion of the transaction, the director now directly owns 66,435 shares in the company, valued at $935,404.80. The trade was a 43.07 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.38% of the company’s stock.

MasterBrand Stock Performance

Shares of MBC stock opened at $13.08 on Friday. The business’s 50-day moving average price is $15.24 and its 200-day moving average price is $16.31. MasterBrand, Inc. has a 12 month low of $12.68 and a 12 month high of $20.67. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.48 and a beta of 1.77. 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 (NYSE:MBC) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $722.85 million.

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

Analyst Upgrades and Downgrades

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

MasterBrand 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.