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

Martingale Asset Management L P lowered its position in shares of MasterBrand, Inc. (NYSE:MBC) by 10.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 67,234 shares of the company’s stock after selling 7,760 shares during the quarter. Martingale Asset Management L P owned about 0.05% of MasterBrand worth $1,247,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of MasterBrand by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 79,586 shares of the company’s stock worth $1,492,000 after purchasing an additional 3,871 shares during the period. Jane Street Group LLC boosted its holdings in MasterBrand by 345.8% in the first quarter. Jane Street Group LLC now owns 207,321 shares of the company’s stock valued at $3,885,000 after purchasing an additional 160,812 shares during the last quarter. Comerica Bank boosted its stake in shares of MasterBrand by 15.2% in the first quarter. Comerica Bank now owns 78,178 shares of the company’s stock worth $1,465,000 after buying an additional 10,286 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in MasterBrand in the second quarter valued at approximately $161,000. Finally, Wedge Capital Management L L P NC boosted its position in 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 worth $937,000 after purchasing an additional 942 shares in the last quarter. Hedge funds and other institutional investors own 87.32% of the company’s stock.

MasterBrand Price Performance

MasterBrand stock opened at $17.30 on Monday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 15.18 and a beta of 1.53. The company’s fifty day moving average price is $17.74 and its 200 day moving average price 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.

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 the consensus estimate of $0.34 by $0.06. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%. The business had revenue of $718.10 million for the quarter.

Analysts Set New Price Targets

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

Insider Buying and Selling at MasterBrand

In other news, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total value of $280,544.55. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark A. Young sold 4,715 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $16.33, for a total transaction of $76,995.95. Following the transaction, the chief accounting officer now owns 45,148 shares in the company, valued at $737,266.84. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,806 shares of company stock valued at $365,567 over the last quarter. 1.38% of the stock is currently owned by insiders.

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.