Citigroup Inc. Purchases 83,797 Shares of MasterBrand, Inc. (NYSE:MBC)

Citigroup Inc. boosted its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 59.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,844 shares of the company’s stock after acquiring an additional 83,797 shares during the quarter. Citigroup Inc. owned about 0.18% of MasterBrand worth $4,187,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in MasterBrand during the second quarter worth $36,000. GAMMA Investing LLC grew its position in shares of MasterBrand by 46.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after acquiring an additional 890 shares during the period. nVerses Capital LLC acquired a new stake in shares of MasterBrand during the 2nd quarter valued at about $75,000. Optimum Investment Advisors lifted its stake in MasterBrand by 1,700.0% in the 3rd quarter. Optimum Investment Advisors now owns 9,000 shares of the company’s stock valued at $167,000 after buying an additional 8,500 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in MasterBrand in the 2nd quarter worth approximately $161,000. Institutional investors own 87.32% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CAO Mark A. Young sold 4,715 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann F. Hackett sold 17,589 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 45,520 shares of the company’s stock, valued at approximately $726,044. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,806 shares of company stock worth $365,567. 1.38% of the stock is owned by company insiders.

MasterBrand Price Performance

MasterBrand stock opened at $17.24 on Wednesday. MasterBrand, Inc. has a 12-month low of $13.37 and a 12-month high of $20.67. The stock has a market cap of $2.19 billion, a P/E ratio of 15.12 and a beta of 1.35. 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 fifty day simple moving average of $17.72 and a 200-day simple moving average of $16.59.

MasterBrand (NYSE:MBC) last issued 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. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%. The business had revenue of $718.10 million for the quarter.

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.