MasterBrand, Inc. (NYSE:MBC) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its holdings in MasterBrand, Inc. (NYSE:MBC) by 9.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,993 shares of the company’s stock after selling 1,283 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in MasterBrand were worth $175,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of MBC. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MasterBrand in the third quarter valued at $872,000. Foundry Partners LLC acquired a new stake in shares of MasterBrand in the third quarter valued at about $4,952,000. Vestcor Inc grew its position in MasterBrand by 329.0% during the third quarter. Vestcor Inc now owns 40,815 shares of the company’s stock worth $757,000 after buying an additional 31,300 shares during the period. Segall Bryant & Hamill LLC purchased a new position in MasterBrand in the third quarter valued at about $1,669,000. Finally, Empowered Funds LLC lifted its position in shares of MasterBrand by 5.1% during the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock valued at $9,503,000 after acquiring an additional 31,714 shares during the period. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

MasterBrand Trading Down 1.7 %

NYSE:MBC opened at $13.81 on Friday. MasterBrand, Inc. has a 52-week low of $12.68 and a 52-week high of $20.67. 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 stock has a fifty day simple moving average of $15.57 and a 200-day simple moving average of $16.41. The company has a market capitalization of $1.76 billion, a PE ratio of 14.23 and a beta of 1.77.

MasterBrand (NYSE:MBC) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $722.85 million.

MasterBrand announced that its Board of Directors has initiated a share buyback program on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Robert Crisci acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $14.08 per share, with a total value of $281,600.00. Following the completion of the purchase, the director now directly owns 66,435 shares in the company, valued at approximately $935,404.80. The trade was a 43.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Juliana L. Chugg acquired 6,989 shares of the company’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 transaction, the director now owns 33,424 shares in the company, valued at $473,618.08. This represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by company insiders.

About MasterBrand

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.