Bank of Montreal Can Acquires 226,068 Shares of MasterBrand, Inc. (NYSE:MBC)

Bank of Montreal Can grew its holdings in MasterBrand, Inc. (NYSE:MBC - Free Report) by 1,087.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,855 shares of the company's stock after acquiring an additional 226,068 shares during the period. Bank of Montreal Can owned about 0.19% of MasterBrand worth $4,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MBC. Quest Partners LLC purchased a new position in shares of MasterBrand during the second quarter valued at $36,000. GAMMA Investing LLC increased its stake in shares of MasterBrand by 46.3% in the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock worth $52,000 after acquiring an additional 890 shares during the period. nVerses Capital LLC acquired a new stake in MasterBrand during the second quarter worth about $75,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of MasterBrand during the 2nd quarter worth approximately $161,000. Finally, Optimum Investment Advisors grew its position in shares of MasterBrand by 1,700.0% during the 3rd quarter. Optimum Investment Advisors now owns 9,000 shares of the company's stock valued at $167,000 after acquiring an additional 8,500 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Loop Capital boosted their target price on MasterBrand from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, October 17th.

Insiders Place Their Bets

In related news, Director Ann F. Hackett sold 17,589 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total value of $280,544.55. Following the sale, the director now directly owns 45,520 shares of the company's stock, valued at $726,044. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark A. Young sold 4,715 shares of the company'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 value of $76,995.95. Following the sale, the chief accounting officer now directly owns 45,148 shares in the company, valued at approximately $737,266.84. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,806 shares of company stock valued at $365,567 in the last quarter. 1.38% of the stock is currently owned by company insiders.

MasterBrand Stock Down 0.5 %

Shares of MBC traded down $0.09 during midday trading on Wednesday, reaching $17.15. The stock had a trading volume of 454,306 shares, compared to its average volume of 913,194. MasterBrand, Inc. has a 1-year low of $13.37 and a 1-year high of $20.67. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.02. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 15.12 and a beta of 1.35. The company's fifty day simple moving average is $17.70 and its two-hundred day simple moving average is $16.60.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.06. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%. The company had revenue of $718.10 million for the quarter.

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.