Principal Financial Group Inc. Sells 16,897 Shares of MasterBrand, Inc. (NYSE:MBC)

Principal Financial Group Inc. reduced its position in MasterBrand, Inc. (NYSE:MBC) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 660,530 shares of the company’s stock after selling 16,897 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of MasterBrand worth $12,246,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MBC. SageView Advisory Group LLC bought a new stake in shares of MasterBrand in the 1st quarter valued at $25,000. Covestor Ltd lifted its position in shares of MasterBrand by 71.4% during the 1st quarter. Covestor Ltd now owns 1,596 shares of the company’s stock valued at $30,000 after acquiring an additional 665 shares during the period. Quest Partners LLC acquired a new position in shares of MasterBrand during the 2nd quarter valued at $36,000. GAMMA Investing LLC lifted its position in shares of MasterBrand by 46.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after acquiring an additional 890 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of MasterBrand during the 2nd quarter valued at $75,000. 87.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

MasterBrand Stock Down 0.6 %

MasterBrand stock 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 12-month low of $12.70 and a 12-month high of $20.67. The firm’s fifty day moving average is $17.71 and its 200 day moving average is $16.59. The company has a market capitalization of $2.15 billion, a PE ratio of 14.82 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 firm had revenue of $718.10 million for the quarter.

Insiders Place Their Bets

In other MasterBrand news, Director Ann F. Hackett sold 17,589 shares of the company’s stock in a transaction 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 approximately $726,044. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mark A. Young sold 4,715 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 45,148 shares in the company, valued at approximately $737,266.84. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,806 shares of company stock worth $365,567. Insiders own 1.38% of the company’s stock.

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.