MasterBrand, Inc. (NYSE:MBC) Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC increased its position in shares of MasterBrand, Inc. (NYSE:MBC) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,838,716 shares of the company’s stock after purchasing an additional 35,497 shares during the period. Pzena Investment Management LLC’s holdings in MasterBrand were worth $52,630,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in MasterBrand by 71.4% during the first quarter. Covestor Ltd now owns 1,596 shares of the company’s stock worth $30,000 after acquiring an additional 665 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of MasterBrand during the second quarter worth about $36,000. GAMMA Investing LLC boosted its holdings in MasterBrand by 46.3% in 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 last quarter. nVerses Capital LLC purchased a new position in shares of MasterBrand during the 2nd quarter valued at approximately $75,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in MasterBrand during the 2nd quarter valued at $161,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

Analysts Set New Price Targets

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

MasterBrand Stock Performance

MasterBrand stock traded up $0.05 during mid-day trading on Wednesday, hitting $16.65. 73,535 shares of the company’s stock traded hands, compared to its average volume of 920,047. MasterBrand, Inc. has a one year low of $12.86 and a one year high of $20.67. The company has a market cap of $2.12 billion, a PE ratio of 14.57 and a beta of 1.53. The firm has a 50 day moving average price of $17.76 and a 200 day moving average price of $16.58. 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $718.10 million for the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.

Insider Activity

In other news, CAO Mark A. Young sold 4,715 shares of the business’s stock in a transaction that occurred 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 owns 45,148 shares in the company, valued at $737,266.84. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann F. Hackett sold 17,589 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total transaction of $280,544.55. Following the completion of the transaction, the director now directly owns 45,520 shares of the company’s stock, valued at $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 sold 22,806 shares of company stock worth $365,567. Insiders own 1.38% of the company’s stock.

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.