MasterBrand, Inc. (NYSE:MBC) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can grew its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 1,087.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 246,855 shares of the company’s stock after purchasing an additional 226,068 shares during the quarter. Bank of Montreal Can’s holdings in MasterBrand were worth $4,527,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Quest Partners LLC acquired a new position in MasterBrand during the 2nd quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in shares of MasterBrand by 46.3% during the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after purchasing an additional 890 shares during the period. nVerses Capital LLC acquired a new position in shares of MasterBrand during the second quarter worth $75,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of MasterBrand in the second quarter valued at $161,000. Finally, Optimum Investment Advisors grew its holdings in MasterBrand by 1,700.0% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.

MasterBrand Price Performance

Shares of NYSE MBC opened at $17.24 on Wednesday. The business has a 50 day moving average price of $17.72 and a two-hundred day moving average price of $16.59. MasterBrand, Inc. has a fifty-two week low of $13.37 and a fifty-two week high of $20.67. The firm has a market cap of $2.19 billion, a PE ratio of 15.12 and a beta of 1.35. 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 (NYSE:MBC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Activity

In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $16.33, for a total transaction of $76,995.95. Following the sale, the chief accounting officer now directly owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. This represents a 9.46 % 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, Director Ann F. Hackett sold 17,589 shares of the business’s stock in a transaction dated 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 approximately $726,044. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,806 shares of company stock worth $365,567. 1.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Loop Capital boosted 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.

About MasterBrand

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.