Citigroup Inc. raised its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 59.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,844 shares of the company's stock after purchasing an additional 83,797 shares during the period. Citigroup Inc. owned 0.18% of MasterBrand worth $4,187,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Foundry Partners LLC acquired a new stake in MasterBrand during the third quarter worth about $4,952,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of MasterBrand during the 3rd quarter worth approximately $872,000. Jane Street Group LLC lifted its position in shares of MasterBrand by 345.8% during the 1st quarter. Jane Street Group LLC now owns 207,321 shares of the company's stock worth $3,885,000 after buying an additional 160,812 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of MasterBrand in the 3rd quarter valued at $1,669,000. Finally, Mawer Investment Management Ltd. acquired a new position in shares of MasterBrand in the 2nd quarter valued at $9,873,000. 87.32% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of the business's stock in a transaction 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 sale, the chief accounting officer now directly owns 45,148 shares in the company, valued at approximately $737,266.84. The trade was a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Hackett sold 17,589 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total transaction of $280,544.55. Following the sale, the director now owns 45,520 shares in the company, valued at $726,044. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,806 shares of company stock worth $365,567. Corporate insiders own 1.38% of the company's stock.
MasterBrand Stock Performance
MBC traded down $0.09 during trading on Wednesday, hitting $17.15. The stock had a trading volume of 454,306 shares, compared to its average volume of 913,194. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.02 and a current ratio of 1.82. The firm has a market capitalization of $2.18 billion, a P/E ratio of 15.12 and a beta of 1.35. The company's 50-day moving average price is $17.70 and its 200 day moving average price is $16.60. MasterBrand, Inc. has a twelve month low of $13.37 and a twelve month high of $20.67.
MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $718.10 million for the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.
Wall Street Analyst Weigh In
Separately, Loop Capital boosted their price objective on shares of MasterBrand from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, October 17th.
Check Out Our Latest Stock Report on MasterBrand
About MasterBrand
(
Free Report)
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.
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