Brandywine Global Investment Management LLC Lowers Stock Position in MasterBrand, Inc. (NYSE:MBC)

Brandywine Global Investment Management LLC trimmed its stake in MasterBrand, Inc. (NYSE:MBC) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 364,074 shares of the company’s stock after selling 16,900 shares during the period. Brandywine Global Investment Management LLC’s holdings in MasterBrand were worth $5,319,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in MasterBrand in the third quarter valued at approximately $470,000. Charles Schwab Investment Management Inc. raised its holdings in shares of MasterBrand by 18.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock valued at $38,799,000 after buying an additional 330,874 shares during the period. Citigroup Inc. lifted its stake in MasterBrand by 59.0% during the 3rd quarter. Citigroup Inc. now owns 225,844 shares of the company’s stock worth $4,187,000 after acquiring an additional 83,797 shares in the last quarter. Bank of Montreal Can boosted its holdings in MasterBrand by 1,087.5% during the 3rd quarter. Bank of Montreal Can now owns 246,855 shares of the company’s stock valued at $4,527,000 after acquiring an additional 226,068 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 valued at $26,437,000 after acquiring an additional 528,537 shares in the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MasterBrand

In other news, Director Robert Crisci purchased 20,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the acquisition, the director now directly owns 66,435 shares of the company’s stock, valued at approximately $935,404.80. The trade was a 43.07 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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, for a total transaction 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. The trade was a 26.44 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

MasterBrand Stock Performance

NYSE:MBC opened at $12.99 on Wednesday. MasterBrand, Inc. has a 52 week low of $12.68 and a 52 week high of $20.67. The company has a fifty day simple moving average of $15.07 and a two-hundred day simple moving average of $16.27. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 13.39 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). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million.

MasterBrand declared that its board has initiated a stock buyback program on Monday, March 17th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is 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.