Allspring Global Investments Holdings LLC Sells 19,266 Shares of MasterBrand, Inc. (NYSE:MBC)

Allspring Global Investments Holdings LLC lessened its stake in MasterBrand, Inc. (NYSE:MBC) by 46.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,221 shares of the company’s stock after selling 19,266 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MasterBrand were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Quest Partners LLC boosted its position in MasterBrand by 33.3% during the third quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock valued at $61,000 after buying an additional 821 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of MasterBrand by 52.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock valued at $66,000 after acquiring an additional 1,216 shares during the last quarter. KBC Group NV boosted its holdings in MasterBrand by 52.0% during the 4th quarter. KBC Group NV now owns 5,800 shares of the company’s stock valued at $85,000 after acquiring an additional 1,983 shares during the period. TD Private Client Wealth LLC grew its position in MasterBrand by 39.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock worth $89,000 after acquiring an additional 1,364 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new position in MasterBrand during the 3rd quarter worth approximately $180,000. Institutional investors own 87.32% of the company’s stock.

MasterBrand Stock Down 2.3 %

Shares of NYSE:MBC opened at $14.37 on Wednesday. The firm has a market capitalization of $1.83 billion, a P/E ratio of 14.81 and a beta of 1.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The stock has a 50 day moving average price of $15.91 and a 200-day moving average price of $16.66. MasterBrand, Inc. has a 52-week low of $13.90 and a 52-week high of $20.67.

MasterBrand (NYSE:MBC) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.17). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $667.70 million during the quarter, compared to analysts’ expectations of $722.85 million.

Analyst Ratings Changes

Separately, Loop Capital dropped their target price on shares of MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, February 19th.

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.