Principal Financial Group Inc. Boosts Holdings in MasterBrand, Inc. (NYSE:MBC)

Principal Financial Group Inc. boosted its position in shares of MasterBrand, Inc. (NYSE:MBC) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 685,752 shares of the company’s stock after buying an additional 25,222 shares during the quarter. Principal Financial Group Inc. owned 0.54% of MasterBrand worth $10,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Quest Partners LLC boosted its stake in MasterBrand by 33.3% during the third quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock worth $61,000 after buying an additional 821 shares during the period. North Growth Management Ltd. boosted its stake in MasterBrand by 0.6% during the third quarter. North Growth Management Ltd. now owns 180,000 shares of the company’s stock worth $3,336,000 after buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. boosted its stake in MasterBrand by 1.2% during the third quarter. PNC Financial Services Group Inc. now owns 94,554 shares of the company’s stock worth $1,753,000 after buying an additional 1,107 shares during the period. Public Employees Retirement System of Ohio boosted its stake in MasterBrand by 52.4% during the third quarter. Public Employees Retirement System of Ohio now owns 3,535 shares of the company’s stock worth $66,000 after buying an additional 1,216 shares during the period. Finally, TD Private Client Wealth LLC boosted its stake in MasterBrand by 39.9% during the third quarter. TD Private Client Wealth LLC now owns 4,783 shares of the company’s stock worth $89,000 after buying an additional 1,364 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.

MasterBrand Stock Up 0.8 %

Shares of MBC opened at $13.97 on Friday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 14.40 and a beta of 1.58. MasterBrand, Inc. has a 12-month low of $13.80 and a 12-month high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average price of $15.88 and a 200-day moving average price of $16.62.

MasterBrand (NYSE:MBC) last issued its earnings results 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). The company had revenue of $667.70 million for the quarter, compared to analysts’ expectations of $722.85 million. MasterBrand had a net margin of 4.66% and a return on equity of 13.89%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Juliana L. Chugg acquired 6,989 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the completion of the acquisition, the director now directly owns 33,424 shares of the company’s stock, valued at $473,618.08. The trade was a 26.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.38% of the company’s stock.

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.