Summit Global Investments Invests $378,000 in MasterBrand, Inc. (NYSE:MBC)

Summit Global Investments purchased a new stake in shares of MasterBrand, Inc. (NYSE:MBC) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 20,378 shares of the company’s stock, valued at approximately $378,000.

A number of other large investors have also added to or reduced their stakes in the stock. Lansing Street Advisors purchased a new position in MasterBrand in the third quarter valued at about $209,000. Raymond James & Associates lifted its stake in MasterBrand by 160.2% in the third quarter. Raymond James & Associates now owns 182,666 shares of the company’s stock valued at $3,387,000 after purchasing an additional 112,456 shares during the last quarter. Optimum Investment Advisors grew its holdings in MasterBrand by 1,700.0% during the third quarter. Optimum Investment Advisors now owns 9,000 shares of the company’s stock valued at $167,000 after purchasing an additional 8,500 shares during the period. Creative Planning increased its position in MasterBrand by 18.1% in the third quarter. Creative Planning now owns 28,948 shares of the company’s stock worth $537,000 after buying an additional 4,432 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of MasterBrand by 10.3% in the third quarter. Wedge Capital Management L L P NC now owns 70,381 shares of the company’s stock valued at $1,305,000 after buying an additional 6,582 shares during the period. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Analyst Ratings Changes

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

MasterBrand Price Performance

MBC opened at $17.04 on Monday. The firm has a 50-day moving average price of $17.60 and a 200-day moving average price of $16.58. MasterBrand, Inc. has a twelve month low of $11.39 and a twelve month high of $20.67. The company has a quick ratio of 1.43, a current ratio of 1.82 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.95 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, beating analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $718.10 million during the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.

Insider Activity

In related news, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total transaction of $280,544.55. Following the sale, the director now owns 45,520 shares of the company’s stock, valued at approximately $726,044. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Ann F. Hackett sold 17,589 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was 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 in the company, valued at $726,044. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mark A. Young sold 4,715 shares of the 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 sale, the chief accounting officer now directly owns 45,148 shares in the company, valued at approximately $737,266.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,806 shares of company stock worth $365,567. 1.38% of the stock is owned by corporate insiders.

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.