Allspring Global Investments Holdings LLC Lowers Stake in MasterBrand, Inc. (NYSE:MBC)

Allspring Global Investments Holdings LLC lowered its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 46.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,221 shares of the company's stock after selling 19,266 shares during the period. Allspring Global Investments Holdings LLC's holdings in MasterBrand were worth $324,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quest Partners LLC grew its holdings in shares of MasterBrand by 33.3% during the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company's stock valued at $61,000 after purchasing an additional 821 shares during the last quarter. North Growth Management Ltd. grew its holdings in shares of MasterBrand by 0.6% during the 3rd quarter. North Growth Management Ltd. now owns 180,000 shares of the company's stock valued at $3,336,000 after purchasing an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of MasterBrand by 1.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 94,554 shares of the company's stock valued at $1,753,000 after purchasing an additional 1,107 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of MasterBrand by 52.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company's stock valued at $66,000 after purchasing an additional 1,216 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of MasterBrand by 39.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company's stock valued at $89,000 after purchasing an additional 1,364 shares during the last quarter. Institutional investors own 87.32% of the company's stock.

Remove Ads

Insiders Place Their Bets

In related news, Director Juliana L. Chugg bought 6,989 shares of the company's stock in a transaction dated Monday, February 24th. The stock was purchased at an average cost 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 approximately $473,618.08. This trade represents a 26.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.38% of the company's stock.

MasterBrand Trading Up 0.8 %

MasterBrand stock traded up $0.11 during trading hours on Friday, reaching $13.97. The stock had a trading volume of 1,363,441 shares, compared to its average volume of 1,067,627. The stock has a market cap of $1.78 billion, a PE ratio of 14.40 and a beta of 1.58. MasterBrand, Inc. has a 52 week low of $13.80 and a 52 week high of $20.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. The company has a fifty day simple moving average of $15.88 and a 200-day simple moving average of $16.62.

MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.17). The firm had revenue of $667.70 million during the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

Analyst Upgrades and Downgrades

Separately, Loop Capital reduced their target price on shares of MasterBrand from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th.

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.