Charles Schwab Investment Management Inc. Acquires 330,874 Shares of MasterBrand, Inc. (NYSE:MBC)

Charles Schwab Investment Management Inc. lifted its holdings in MasterBrand, Inc. (NYSE:MBC) by 18.8% during the third quarter, Holdings Channel reports. The institutional investor owned 2,092,694 shares of the company’s stock after acquiring an additional 330,874 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in MasterBrand were worth $38,799,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MBC. Price T Rowe Associates Inc. MD boosted its stake in MasterBrand by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 79,586 shares of the company’s stock worth $1,492,000 after acquiring an additional 3,871 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of MasterBrand by 345.8% during the first quarter. Jane Street Group LLC now owns 207,321 shares of the company’s stock valued at $3,885,000 after purchasing an additional 160,812 shares during the last quarter. Comerica Bank boosted its position in shares of MasterBrand by 15.2% in the 1st quarter. Comerica Bank now owns 78,178 shares of the company’s stock worth $1,465,000 after purchasing an additional 10,286 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new stake in shares of MasterBrand in the 2nd quarter worth approximately $161,000. Finally, Wedge Capital Management L L P NC grew its stake in shares of MasterBrand by 1.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 63,799 shares of the company’s stock worth $937,000 after buying an additional 942 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

MasterBrand Price Performance

MBC opened at $17.32 on Tuesday. The firm has a market cap of $2.20 billion, a PE ratio of 15.19 and a beta of 1.53. The stock has a 50-day moving average price of $17.74 and a 200-day moving average price of $16.59. MasterBrand, Inc. has a 1 year low of $13.37 and a 1 year high of $20.67. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.02.

MasterBrand (NYSE:MBC) last issued its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) 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 during the quarter.

Insider Buying and Selling

In related news, 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 transaction, the director now owns 45,520 shares in the company, valued at $726,044. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark A. Young sold 4,715 shares of the firm’s stock in a transaction that occurred on 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 owns 45,148 shares in the company, valued at $737,266.84. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,806 shares of company stock worth $365,567 in the last three months. 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.