Foundry Partners LLC Makes New Investment in MasterBrand, Inc. (NYSE:MBC)

Foundry Partners LLC acquired a new stake in MasterBrand, Inc. (NYSE:MBC - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 267,104 shares of the company's stock, valued at approximately $4,952,000. Foundry Partners LLC owned about 0.21% of MasterBrand as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of MasterBrand by 3.4% during the first quarter. Vanguard Group Inc. now owns 10,646,110 shares of the company's stock worth $199,508,000 after purchasing an additional 346,346 shares during the last quarter. Thrivent Financial for Lutherans increased its position in MasterBrand by 11.8% during the third quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company's stock worth $91,329,000 after buying an additional 518,443 shares during the period. Dimensional Fund Advisors LP lifted its stake in MasterBrand by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,546,152 shares of the company's stock valued at $66,738,000 after buying an additional 497,327 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of MasterBrand by 1.3% in the third quarter. Pzena Investment Management LLC now owns 2,838,716 shares of the company's stock valued at $52,630,000 after acquiring an additional 35,497 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of MasterBrand by 7.0% during the second quarter. Renaissance Technologies LLC now owns 1,442,018 shares of the company's stock worth $21,169,000 after acquiring an additional 94,800 shares during the last quarter. Institutional investors and hedge funds own 87.32% of the company's stock.

MasterBrand Stock Performance

MBC stock traded up $0.48 during trading on Friday, hitting $17.19. The company had a trading volume of 656,657 shares, compared to its average volume of 920,299. The firm has a 50-day moving average price of $17.80 and a 200-day moving average price of $16.58. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.18 billion, a PE ratio of 15.08 and a beta of 1.53. MasterBrand, Inc. has a 1-year low of $13.16 and a 1-year high of $20.67.

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

Insider Activity

In other news, 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 completion of the sale, the director now directly owns 45,520 shares of the company's stock, valued at $726,044. This trade represents a 27.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark A. Young sold 4,715 shares of the company's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $16.33, for a total value of $76,995.95. Following the transaction, the chief accounting officer now directly owns 45,148 shares in the company, valued at $737,266.84. This represents a 9.46 % decrease in their position. 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 over the last quarter. Corporate insiders own 1.38% of the company's stock.

Analyst Upgrades and Downgrades

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

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.