JPMorgan Chase & Co. Has $5.47 Million Stake in MasterBrand, Inc. (NYSE:MBC)

JPMorgan Chase & Co. reduced its position in shares of MasterBrand, Inc. (NYSE:MBC) by 46.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 294,917 shares of the company’s stock after selling 252,887 shares during the quarter. JPMorgan Chase & Co. owned 0.23% of MasterBrand worth $5,468,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MBC. Quest Partners LLC purchased a new position in shares of MasterBrand during the second quarter valued at $36,000. American Century Companies Inc. grew its stake in MasterBrand by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 267,992 shares of the company’s stock valued at $3,934,000 after acquiring an additional 52,779 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of MasterBrand by 28.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 29,028 shares of the company’s stock valued at $426,000 after purchasing an additional 6,450 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MasterBrand by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,546,152 shares of the company’s stock worth $66,738,000 after purchasing an additional 497,327 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of MasterBrand by 7.0% during the second quarter. Renaissance Technologies LLC now owns 1,442,018 shares of the company’s stock worth $21,169,000 after purchasing an additional 94,800 shares during the period. Hedge funds and other institutional investors own 87.32% of the company’s stock.

MasterBrand Stock Up 1.4 %

MBC opened at $16.86 on Friday. MasterBrand, Inc. has a twelve month low of $13.37 and a twelve month high of $20.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.02 and a current ratio of 1.82. The business has a 50 day moving average price of $16.03 and a 200 day moving average price of $16.53. The firm has a market cap of $2.14 billion, a P/E ratio of 14.79 and a beta of 1.55.

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, beating 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 for the quarter.

Analyst Ratings Changes

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

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.