Pacer Advisors Inc. Trims Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Pacer Advisors Inc. decreased its position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 23.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,164,670 shares of the company's stock after selling 1,603,505 shares during the period. Pacer Advisors Inc. owned about 4.06% of MasterBrand worth $95,753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MBC. Covestor Ltd boosted its stake in shares of MasterBrand by 71.4% in the first quarter. Covestor Ltd now owns 1,596 shares of the company's stock valued at $30,000 after purchasing an additional 665 shares during the period. Quest Partners LLC purchased a new position in MasterBrand in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC grew its stake in shares of MasterBrand by 46.3% in the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock worth $52,000 after acquiring an additional 890 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of MasterBrand during the second quarter worth $75,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of MasterBrand in the second quarter valued at $161,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Stock Up 2.9 %

NYSE:MBC traded up $0.48 during mid-day trading on Friday, hitting $17.19. The stock had a trading volume of 656,657 shares, compared to its average volume of 920,299. MasterBrand, Inc. has a twelve month low of $13.16 and a twelve month high of $20.67. The stock has a 50-day simple moving average of $17.80 and a two-hundred day simple moving average of $16.58. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $2.18 billion, a PE ratio of 15.08 and a beta of 1.53.

MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.06. The business had revenue of $718.10 million for the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.

Analyst Upgrades and Downgrades

Separately, Loop Capital boosted their target price on MasterBrand from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th.

Insiders Place Their Bets

In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $280,544.55. Following the sale, the director now directly owns 45,520 shares in the company, valued at approximately $726,044. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,806 shares of company stock valued at $365,567 in the last ninety days. Insiders own 1.38% of the company's stock.

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.