Wellington Management Group LLP Cuts Position in MasterBrand, Inc. (NYSE:MBC)

Wellington Management Group LLP decreased its position in MasterBrand, Inc. (NYSE:MBC) by 97.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,113 shares of the company’s stock after selling 2,177,753 shares during the quarter. Wellington Management Group LLP’s holdings in MasterBrand were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Mawer Investment Management Ltd. purchased a new stake in MasterBrand during the second quarter valued at $9,873,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MasterBrand by 58.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,425,966 shares of the company’s stock valued at $26,437,000 after buying an additional 528,537 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of MasterBrand by 11.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company’s stock valued at $91,329,000 after acquiring an additional 518,443 shares during the last quarter. Dimensional Fund Advisors LP grew its position in MasterBrand by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,546,152 shares of the company’s stock worth $66,738,000 after acquiring an additional 497,327 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in MasterBrand by 18.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock worth $38,799,000 after acquiring an additional 330,874 shares during the last quarter. 87.32% of the stock is owned by hedge funds and other institutional investors.

MasterBrand Trading Down 2.2 %

MBC stock opened at $14.61 on Friday. MasterBrand, Inc. has a twelve month low of $13.37 and a twelve month high of $20.67. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.82 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. The firm’s fifty day simple moving average is $17.32 and its two-hundred day simple moving average is $16.60.

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

Analyst Ratings Changes

Separately, Loop Capital lifted their target price on 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.