Balyasny Asset Management L.P. Buys Shares of 228,545 MasterBrand, Inc. (NYSE:MBC)

Balyasny Asset Management L.P. bought a new stake in shares of MasterBrand, Inc. (NYSE:MBC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 228,545 shares of the company’s stock, valued at approximately $3,339,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Smartleaf Asset Management LLC increased its position in shares of MasterBrand by 150.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock valued at $37,000 after acquiring an additional 1,549 shares in the last quarter. KBC Group NV increased its position in shares of MasterBrand by 52.0% during the fourth quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after acquiring an additional 1,983 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of MasterBrand during the fourth quarter valued at approximately $150,000. Cibc World Markets Corp bought a new stake in shares of MasterBrand during the fourth quarter valued at approximately $173,000. Finally, CIBC Asset Management Inc increased its position in shares of MasterBrand by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock valued at $188,000 after acquiring an additional 736 shares in the last quarter. Institutional investors own 87.32% of the company’s stock.

Analyst Upgrades and Downgrades

MBC has been the subject of several analyst reports. Zelman & Associates reissued an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital reduced their price target on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th.

Insider Buying and Selling

In related news, Director Robert Crisci bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the acquisition, the director now owns 66,435 shares of the company’s stock, 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 accessible through this hyperlink. Also, Director Juliana L. Chugg purchased 6,989 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were acquired at an average price 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. The trade was a 26.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.38% of the stock is currently owned by corporate insiders.

MasterBrand Trading Down 4.6%

Shares of MBC stock opened at $9.87 on Monday. MasterBrand, Inc. has a 12-month low of $9.78 and a 12-month high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $12.43 and its 200 day moving average is $14.95. The stock has a market capitalization of $1.25 billion, a P/E ratio of 10.18 and a beta of 1.74.

MasterBrand (NYSE:MBC) last issued its earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share (EPS) 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 company had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $663.95 million.

MasterBrand declared that its Board of Directors has authorized a stock buyback program on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.