Foundry Partners LLC Takes Position in MasterBrand, Inc. (NYSE:MBC)

Foundry Partners LLC purchased a new position in shares of MasterBrand, Inc. (NYSE:MBC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 267,104 shares of the company’s stock, valued at approximately $4,952,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MBC. Intech Investment Management LLC bought a new stake in MasterBrand in the 3rd quarter valued at about $470,000. Pzena Investment Management LLC increased its stake in MasterBrand by 1.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,838,716 shares of the company’s stock valued at $52,630,000 after buying an additional 35,497 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MasterBrand during the 3rd quarter worth $872,000. Segall Bryant & Hamill LLC acquired a new position in shares of MasterBrand during the 3rd quarter worth $1,669,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of MasterBrand by 1.2% during the 3rd 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. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Insider Buying and Selling

In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction that occurred on 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 represents a 27.87 % decrease in their position. 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. Insiders own 1.38% of the company’s stock.

MasterBrand Stock Up 1.8 %

Shares of NYSE:MBC opened at $16.71 on Friday. MasterBrand, Inc. has a one year low of $12.99 and a one year high of $20.67. The company has a 50 day moving average of $17.78 and a 200-day moving average of $16.58. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.02. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 14.66 and a beta of 1.53.

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

Analyst Upgrades and Downgrades

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

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.