Principal Financial Group Inc. Acquires 25,222 Shares of MasterBrand, Inc. (NYSE:MBC)

Principal Financial Group Inc. boosted its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 685,752 shares of the company's stock after purchasing an additional 25,222 shares during the period. Principal Financial Group Inc. owned about 0.54% of MasterBrand worth $10,019,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning raised its position in shares of MasterBrand by 18.1% in the third quarter. Creative Planning now owns 28,948 shares of the company's stock valued at $537,000 after purchasing an additional 4,432 shares during the period. Raymond James & Associates raised its holdings in MasterBrand by 160.2% during the 3rd quarter. Raymond James & Associates now owns 182,666 shares of the company's stock valued at $3,387,000 after acquiring an additional 112,456 shares during the period. Lansing Street Advisors purchased a new stake in shares of MasterBrand during the third quarter worth $209,000. Summit Global Investments bought a new position in shares of MasterBrand in the third quarter worth $378,000. Finally, Entropy Technologies LP grew its position in shares of MasterBrand by 69.6% in the third quarter. Entropy Technologies LP now owns 18,757 shares of the company's stock valued at $348,000 after purchasing an additional 7,700 shares in the last quarter. 87.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Loop Capital cut their target price on MasterBrand from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th.

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Insiders Place Their Bets

In other news, Director Robert Crisci acquired 20,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $14.08 per share, with a total value of $281,600.00. Following the transaction, the director now owns 66,435 shares in the company, valued at $935,404.80. The trade was a 43.07 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Juliana L. Chugg bought 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The shares were purchased at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, the director now directly owns 33,424 shares in the company, valued at approximately $473,618.08. This trade represents a 26.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.38% of the company's stock.

MasterBrand Price Performance

NYSE:MBC traded up $0.22 during mid-day trading on Tuesday, hitting $13.41. 673,523 shares of the stock traded hands, compared to its average volume of 1,064,335. The business's 50-day moving average price is $15.86 and its 200 day moving average price is $16.63. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.71 billion, a PE ratio of 13.82 and a beta of 1.58. MasterBrand, Inc. has a 12-month low of $12.68 and a 12-month high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.17). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The business had revenue of $667.70 million during the quarter, compared to analysts' expectations of $722.85 million.

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.