32,374 Shares in MasterBrand, Inc. (NYSE:MBC) Purchased by Atom Investors LP

Atom Investors LP purchased a new stake in shares of MasterBrand, Inc. (NYSE:MBC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 32,374 shares of the company’s stock, valued at approximately $600,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of MasterBrand by 2.1% during the second quarter. Arizona State Retirement System now owns 35,554 shares of the company’s stock valued at $522,000 after acquiring an additional 717 shares in the last quarter. Quest Partners LLC raised its holdings in MasterBrand by 33.3% in the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock worth $61,000 after purchasing an additional 821 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of MasterBrand by 46.3% in the 3rd 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. Wedge Capital Management L L P NC boosted its stake in shares of MasterBrand by 1.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 63,799 shares of the company’s stock valued at $937,000 after purchasing an additional 942 shares in the last quarter. Finally, North Growth Management Ltd. increased its position in shares of MasterBrand by 0.6% during the third quarter. North Growth Management Ltd. now owns 180,000 shares of the company’s stock valued at $3,336,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Analysts Set New Price Targets

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

MasterBrand Price Performance

Shares of MBC stock opened at $17.24 on Wednesday. The business’s fifty day moving average is $17.72 and its 200 day moving average is $16.59. 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 stock has a market cap of $2.19 billion, a price-to-earnings ratio of 15.12 and a beta of 1.35. MasterBrand, Inc. has a twelve month low of $13.37 and a twelve month high of $20.67.

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 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 during the quarter.

Insider Activity

In other news, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark A. Young sold 4,715 shares of MasterBrand stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $16.33, for a total value of $76,995.95. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders 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.