Vanguard Group Inc. Reduces Stock Position in MasterBrand, Inc. $MBC

Vanguard Group Inc. lessened its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,175,135 shares of the company’s stock after selling 416,309 shares during the quarter. Vanguard Group Inc. owned approximately 7.22% of MasterBrand worth $119,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in MasterBrand by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 707,817 shares of the company’s stock worth $9,244,000 after purchasing an additional 22,065 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in MasterBrand by 53.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,995 shares of the company’s stock worth $442,000 after purchasing an additional 11,774 shares in the last quarter. Bank of America Corp DE increased its position in MasterBrand by 23.1% during the 4th quarter. Bank of America Corp DE now owns 629,281 shares of the company’s stock worth $9,194,000 after purchasing an additional 117,940 shares in the last quarter. Millennium Management LLC increased its position in MasterBrand by 220.9% during the 4th quarter. Millennium Management LLC now owns 462,409 shares of the company’s stock worth $6,756,000 after purchasing an additional 318,298 shares in the last quarter. Finally, Bryce Point Capital LLC purchased a new stake in MasterBrand during the 1st quarter worth about $814,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen upgraded MasterBrand from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Loop Capital dropped their price objective on MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.00.

MasterBrand Stock Down 0.3%

Shares of NYSE:MBC opened at $12.2650 on Friday. The stock’s 50-day moving average price is $11.46 and its two-hundred day moving average price is $12.23. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 0.73. MasterBrand, Inc. has a 12-month low of $9.63 and a 12-month high of $20.67. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 17.03 and a beta of 1.42.

MasterBrand (NYSE:MBC) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. MasterBrand had a return on equity of 11.88% and a net margin of 3.37%.The firm had revenue of $730.90 million for the quarter, compared to analyst estimates of $683.30 million.

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.