Wellington Management Group LLP cut its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 97.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,113 shares of the company's stock after selling 2,177,753 shares during the quarter. Wellington Management Group LLP's holdings in MasterBrand were worth $1,022,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of MasterBrand during the 3rd quarter worth approximately $872,000. Foundry Partners LLC acquired a new position in shares of MasterBrand during the third quarter worth $4,952,000. Segall Bryant & Hamill LLC acquired a new position in shares of MasterBrand during the third quarter worth $1,669,000. Mawer Investment Management Ltd. purchased a new stake in shares of MasterBrand during the 2nd quarter valued at $9,873,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of MasterBrand by 18.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company's stock worth $38,799,000 after purchasing an additional 330,874 shares in the last quarter. 87.32% of the stock is owned by institutional investors.
MasterBrand Stock Performance
Shares of MasterBrand stock traded down $0.15 during midday trading on Friday, hitting $14.46. The company had a trading volume of 7,852,914 shares, compared to its average volume of 939,818. The company has a fifty day simple moving average of $17.32 and a 200 day simple moving average of $16.60. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 12.68 and a beta of 1.35. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.83. 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 results on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. The business had revenue of $718.10 million during the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.
Wall Street Analyst Weigh In
Separately, Loop Capital upped their target price on MasterBrand from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, October 17th.
Check Out Our Latest Research Report on MBC
About MasterBrand
(
Free Report)
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.
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