Cornercap Investment Counsel Inc. Has $583,000 Stock Position in MasterBrand, Inc. (NYSE:MBC)

Cornercap Investment Counsel Inc. lessened its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 55.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,464 shares of the company's stock after selling 39,453 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in MasterBrand were worth $583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd boosted its stake in shares of MasterBrand by 71.4% in the 1st quarter. Covestor Ltd now owns 1,596 shares of the company's stock valued at $30,000 after purchasing an additional 665 shares in the last quarter. Arizona State Retirement System grew its stake in shares of MasterBrand by 2.1% during the second quarter. Arizona State Retirement System now owns 35,554 shares of the company's stock worth $522,000 after buying an additional 717 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of MasterBrand by 46.3% during the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock worth $52,000 after buying an additional 890 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of 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 valued at $937,000 after acquiring an additional 942 shares during the last quarter. Finally, North Growth Management Ltd. boosted 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 acquiring an additional 1,000 shares in the last quarter. Institutional investors own 87.32% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Loop Capital upped 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, CAO Mark A. Young sold 4,715 shares of the company'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 sale, the chief accounting officer now owns 45,148 shares in the company, valued at $737,266.84. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann F. Hackett sold 17,589 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,806 shares of company stock valued at $365,567. 1.38% of the stock is currently owned by company insiders.

MasterBrand Trading Down 0.6 %

Shares of MasterBrand stock traded down $0.11 on Friday, hitting $16.90. The stock had a trading volume of 745,620 shares, compared to its average volume of 926,646. The stock has a 50 day moving average of $17.71 and a 200 day moving average of $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 twelve month low of $12.70 and a twelve month high of $20.67. The firm has a market capitalization of $2.15 billion, a P/E ratio of 14.82 and a beta of 1.53.

MasterBrand (NYSE:MBC - Get Free Report) last released its quarterly 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 firm had revenue of $718.10 million during the quarter.

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.