MasterBrand, Inc. (NYSE:MBC) Holdings Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in shares of MasterBrand, Inc. (NYSE:MBC) by 1.5% in the third quarter, Holdings Channel.com reports. The firm owned 68,843 shares of the company’s stock after selling 1,036 shares during the period. The Manufacturers Life Insurance Company’s holdings in MasterBrand were worth $1,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MBC. Quest Partners LLC acquired a new position in MasterBrand during the 2nd quarter worth $36,000. GAMMA Investing LLC grew its holdings in MasterBrand by 46.3% during the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock worth $52,000 after purchasing an additional 890 shares during the period. nVerses Capital LLC bought a new stake in shares of MasterBrand during the second quarter worth approximately $75,000. Optimum Investment Advisors boosted 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 buying an additional 8,500 shares during the period. Finally, Marshall Wace LLP acquired a new position in MasterBrand during the second quarter valued at approximately $172,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

Analyst Ratings Changes

Separately, Loop Capital upped their price target 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 Up 0.7 %

MBC opened at $16.52 on Thursday. The company has a 50 day moving average of $17.53 and a 200 day moving average of $16.61. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. MasterBrand, Inc. has a 12 month low of $13.37 and a 12 month high of $20.67. The company has a market cap of $2.10 billion, a PE ratio of 14.49 and a beta of 1.36.

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

Insider Activity

In other 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 value of $76,995.95. Following the completion of the sale, the chief accounting officer now directly owns 45,148 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. 1.38% of the stock is owned by corporate insiders.

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.