MasterBrand, Inc. (NYSE:MBC) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in MasterBrand, Inc. (NYSE:MBC) by 3.5% in the 3rd quarter, Holdings Channel reports. The fund owned 37,512 shares of the company’s stock after selling 1,368 shares during the period. Amalgamated Bank’s holdings in MasterBrand were worth $695,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Lansing Street Advisors acquired a new stake in shares of MasterBrand in the 3rd quarter worth $209,000. Raymond James & Associates lifted its stake in shares of 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 period. Optimum Investment Advisors lifted its stake in shares of MasterBrand by 1,700.0% in 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 lifted its stake in shares of MasterBrand by 18.1% in the third quarter. Creative Planning now owns 28,948 shares of the company’s stock valued at $537,000 after purchasing an additional 4,432 shares during the period. Finally, Wedge Capital Management L L P NC lifted 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 purchasing an additional 6,582 shares during the period. Institutional investors and hedge funds own 87.32% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at MasterBrand

In other news, CAO Mark A. Young sold 4,715 shares of MasterBrand stock in a transaction dated Friday, September 13th. The shares were 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 $737,266.84. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann F. Hackett sold 17,589 shares of MasterBrand 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 trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 Stock Down 0.6 %

Shares of NYSE MBC opened at $16.90 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.83. MasterBrand, Inc. has a 52 week low of $12.70 and a 52 week high of $20.67. The firm has a 50-day moving average price of $17.71 and a 200 day moving average price of $16.59. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 14.82 and a beta of 1.53.

MasterBrand (NYSE:MBC) last posted its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share for the quarter, beating 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 firm had revenue of $718.10 million during the quarter.

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.