Thrivent Financial for Lutherans Acquires 518,443 Shares of MasterBrand, Inc. (NYSE:MBC)

Thrivent Financial for Lutherans raised its holdings in MasterBrand, Inc. (NYSE:MBC) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,926,048 shares of the company’s stock after buying an additional 518,443 shares during the quarter. Thrivent Financial for Lutherans owned about 3.88% of MasterBrand worth $91,329,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MBC. Covestor Ltd boosted its holdings in MasterBrand by 71.4% in the first quarter. Covestor Ltd now owns 1,596 shares of the company’s stock valued at $30,000 after acquiring an additional 665 shares in the last quarter. Quest Partners LLC bought a new stake in shares of MasterBrand during the 2nd quarter valued at about $36,000. GAMMA Investing LLC increased its position 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 buying an additional 890 shares during the period. nVerses Capital LLC purchased a new stake in MasterBrand in the second quarter worth about $75,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in MasterBrand during the 2nd quarter valued at approximately $161,000. 87.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MasterBrand

In related news, CAO Mark A. Young sold 4,715 shares of the stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann F. Hackett sold 17,589 shares of the firm’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 owns 45,520 shares of the company’s stock, valued at approximately $726,044. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,806 shares of company stock valued at $365,567 in the last 90 days. Corporate insiders own 1.38% of the company’s stock.

MasterBrand Stock Performance

Shares of MBC stock opened at $16.90 on Monday. The company’s fifty day moving average price is $17.71 and its 200-day moving average price is $16.59. The stock has a market cap of $2.15 billion, a PE ratio of 14.82 and a beta of 1.53. 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 $12.70 and a 12 month high of $20.67.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.40 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 for the quarter.

Analyst Ratings Changes

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

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.