Allspring Global Investments Holdings LLC Sells 144,188 Shares of MasterBrand, Inc. (NYSE:MBC)

Allspring Global Investments Holdings LLC trimmed its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 77.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,487 shares of the company's stock after selling 144,188 shares during the period. Allspring Global Investments Holdings LLC's holdings in MasterBrand were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its position in MasterBrand by 246.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 154,393 shares of the company's stock worth $2,893,000 after purchasing an additional 109,860 shares during the period. Vanguard Group Inc. grew its holdings in shares of MasterBrand by 3.4% in the first quarter. Vanguard Group Inc. now owns 10,646,110 shares of the company's stock worth $199,508,000 after acquiring an additional 346,346 shares during the period. Jane Street Group LLC increased its position in MasterBrand by 345.8% during the first quarter. Jane Street Group LLC now owns 207,321 shares of the company's stock valued at $3,885,000 after acquiring an additional 160,812 shares during the last quarter. Sei Investments Co. purchased a new stake in MasterBrand during the first quarter valued at $643,000. Finally, SG Americas Securities LLC lifted its holdings in MasterBrand by 3,100.6% in the first quarter. SG Americas Securities LLC now owns 405,768 shares of the company's stock valued at $7,604,000 after acquiring an additional 393,090 shares during the period. Institutional investors own 87.32% of the company's stock.

Insider Activity at MasterBrand

In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of MasterBrand stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 45,148 shares of the company's stock, valued at $737,266.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ann F. Hackett sold 17,589 shares of the business's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total value of $280,544.55. Following the transaction, the director now owns 45,520 shares of the company's stock, valued at approximately $726,044. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $76,995.95. Following the transaction, the chief accounting officer now owns 45,148 shares of the company's stock, valued at approximately $737,266.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,806 shares of company stock worth $365,567. 1.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

MasterBrand Stock Performance

MBC traded down $0.32 during trading on Friday, hitting $17.64. The company's stock had a trading volume of 493,458 shares, compared to its average volume of 914,475. The business's 50 day simple moving average is $17.43 and its 200-day simple moving average is $16.56. The firm has a market cap of $2.24 billion, a PE ratio of 12.78 and a beta of 1.49. MasterBrand, Inc. has a one year low of $11.38 and a one year high of $19.31. The company has a quick ratio of 1.43, a current ratio of 2.24 and a debt-to-equity ratio of 0.55.

MasterBrand (NYSE:MBC - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The company 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 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.