MasterBrand (NYSE:MBC) Reaches New 1-Year High After Analyst Upgrade

MasterBrand, Inc. (NYSE:MBC - Get Free Report) shares hit a new 52-week high on Thursday after Loop Capital raised their price target on the stock from $20.00 to $23.00. Loop Capital currently has a buy rating on the stock. MasterBrand traded as high as $19.13 and last traded at $19.04, with a volume of 361718 shares trading hands. The stock had previously closed at $18.74.

Insider Buying and Selling at MasterBrand

In other news, CAO Mark A. Young sold 4,715 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $16.33, for a total transaction 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other 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 completion of the sale, the chief accounting officer now directly owns 45,148 shares of the company's stock, valued at $737,266.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction 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 transaction, the director now directly owns 45,520 shares in the company, valued at $726,044. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,806 shares of company stock worth $365,567 in the last 90 days. 1.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasterBrand

A number of hedge funds have recently made changes to their positions in MBC. SageView Advisory Group LLC purchased a new stake in shares of MasterBrand during the 1st quarter valued at about $25,000. Covestor Ltd lifted its position in shares of MasterBrand by 71.4% during the first quarter. Covestor Ltd now owns 1,596 shares of the company's stock worth $30,000 after purchasing an additional 665 shares in the last quarter. Quest Partners LLC purchased a new position in shares of MasterBrand in the second quarter valued at $36,000. GAMMA Investing LLC boosted its stake in shares of MasterBrand by 51.2% in the first quarter. GAMMA Investing LLC now owns 2,208 shares of the company's stock valued at $41,000 after purchasing an additional 748 shares during the period. Finally, Mather Group LLC. acquired a new stake in MasterBrand during the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 87.32% of the company's stock.

MasterBrand Price Performance

The company has a current ratio of 2.24, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.42 billion, a PE ratio of 13.42 and a beta of 1.49. The company's 50 day moving average is $16.82 and its 200-day moving average is $16.54.

MasterBrand (NYSE:MBC - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. The business had revenue of $676.50 million for the quarter. MasterBrand had a return on equity of 16.58% and a net margin of 6.69%.

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.