Martingale Asset Management L P Reduces Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Martingale Asset Management L P reduced its position in shares of MasterBrand, Inc. (NYSE:MBC) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 67,234 shares of the company’s stock after selling 7,760 shares during the quarter. Martingale Asset Management L P’s holdings in MasterBrand were worth $1,247,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of MasterBrand by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 79,586 shares of the company’s stock worth $1,492,000 after buying an additional 3,871 shares during the last quarter. Jane Street Group LLC grew its position in MasterBrand by 345.8% in the first quarter. Jane Street Group LLC now owns 207,321 shares of the company’s stock worth $3,885,000 after acquiring an additional 160,812 shares during the period. Comerica Bank increased its stake in MasterBrand by 15.2% during the first quarter. Comerica Bank now owns 78,178 shares of the company’s stock worth $1,465,000 after acquiring an additional 10,286 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in MasterBrand in the second quarter valued at $161,000. Finally, Wedge Capital Management L L P NC lifted its stake in shares of MasterBrand by 1.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 63,799 shares of the company’s stock valued at $937,000 after purchasing an additional 942 shares during the last quarter. 87.32% of the stock is owned by hedge funds and other institutional investors.

MasterBrand Price Performance

MasterBrand stock opened at $17.30 on Monday. The company’s 50 day simple moving average is $17.74 and its 200-day simple moving average is $16.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.02 and a current ratio of 1.82. MasterBrand, Inc. has a 1 year low of $13.16 and a 1 year high of $20.67. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 15.18 and a beta of 1.53.

MasterBrand (NYSE:MBC) last announced its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%. The company had revenue of $718.10 million for the quarter.

Insider Activity at MasterBrand

In other MasterBrand news, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total transaction of $280,544.55. Following the sale, the director now directly owns 45,520 shares in the company, valued at $726,044. This represents a 27.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark A. Young sold 4,715 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $16.33, for a total transaction of $76,995.95. Following the completion of the transaction, the chief accounting officer now directly owns 45,148 shares of the company’s stock, valued at $737,266.84. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,806 shares of company stock worth $365,567. 1.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Loop Capital raised their price objective on MasterBrand from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th.

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.