US Bancorp DE Cuts Position in MasterBrand, Inc. (NYSE:MBC)

US Bancorp DE lowered its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,505 shares of the company’s stock after selling 1,053 shares during the period. US Bancorp DE’s holdings in MasterBrand were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of MasterBrand by 246.7% during 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 acquiring an additional 109,860 shares in the last quarter. Vanguard Group Inc. boosted its position in MasterBrand by 3.4% during the first quarter. Vanguard Group Inc. now owns 10,646,110 shares of the company’s stock worth $199,508,000 after purchasing an additional 346,346 shares in the last quarter. Jane Street Group LLC grew its holdings in MasterBrand by 345.8% in the first quarter. Jane Street Group LLC now owns 207,321 shares of the company’s stock valued at $3,885,000 after purchasing an additional 160,812 shares during the last quarter. Sei Investments Co. purchased a new position in shares of MasterBrand in the first quarter valued at $643,000. Finally, Mawer Investment Management Ltd. acquired a new position in shares of MasterBrand during the 2nd quarter worth $9,873,000. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Loop Capital increased their price objective on shares of MasterBrand from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

Insider Activity at MasterBrand

In other MasterBrand news, Director Ann F. Hackett sold 17,589 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were 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 of the company’s stock, valued at $726,044. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Mark A. Young sold 4,715 shares of the stock in a transaction dated 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 directly owns 45,148 shares in the company, valued at approximately $737,266.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann F. Hackett sold 17,589 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 45,520 shares in the company, valued at approximately $726,044. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,806 shares of company stock valued at $365,567. 1.38% of the stock is owned by insiders.

MasterBrand Trading Up 0.3 %

Shares of MBC opened at $16.82 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.02. MasterBrand, Inc. has a 1-year low of $12.40 and a 1-year high of $20.67. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 14.75 and a beta of 1.53. The firm has a 50 day simple moving average of $17.67 and a 200-day simple moving average of $16.59.

MasterBrand (NYSE:MBC) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%. The company had revenue of $718.10 million during the quarter.

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.