Vestcor Inc Boosts Holdings in MasterBrand, Inc. (NYSE:MBC)

Vestcor Inc grew its position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 329.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,815 shares of the company's stock after buying an additional 31,300 shares during the quarter. Vestcor Inc's holdings in MasterBrand were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC grew its stake in shares of MasterBrand by 1.5% in the second quarter. Wedge Capital Management L L P NC now owns 63,799 shares of the company's stock worth $937,000 after acquiring an additional 942 shares during the period. Hennessy Advisors Inc. purchased a new stake in MasterBrand during the 2nd quarter valued at $6,710,000. Louisiana State Employees Retirement System lifted its holdings in shares of MasterBrand by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the company's stock valued at $938,000 after buying an additional 1,100 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of MasterBrand by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,069,569 shares of the company's stock worth $15,701,000 after buying an additional 7,446 shares during the last quarter. Finally, Bailard Inc. bought a new stake in shares of MasterBrand in the second quarter worth $305,000. Institutional investors own 87.32% of the company's stock.

Analyst Ratings Changes

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

MasterBrand Stock Performance

Shares of NYSE:MBC traded down $0.16 during trading on Friday, hitting $16.23. The company's stock had a trading volume of 811,446 shares, compared to its average volume of 907,133. The company has a 50-day moving average of $17.51 and a 200-day moving average of $16.61. 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 firm has a market cap of $2.06 billion, a price-to-earnings ratio of 14.11 and a beta of 1.35. MasterBrand, Inc. has a 12 month low of $13.37 and a 12 month high of $20.67.

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, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $718.10 million for the quarter. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%.

MasterBrand Company 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.