Cornercap Investment Counsel Inc. Cuts Position in MasterBrand, Inc. (NYSE:MBC)

Cornercap Investment Counsel Inc. lowered its position in shares of MasterBrand, Inc. (NYSE:MBC) by 55.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 31,464 shares of the company’s stock after selling 39,453 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in MasterBrand were worth $583,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MBC. SageView Advisory Group LLC purchased a new position in MasterBrand in the 1st quarter worth approximately $25,000. Covestor Ltd boosted its holdings in MasterBrand by 71.4% in the 1st quarter. Covestor Ltd now owns 1,596 shares of the company’s stock worth $30,000 after acquiring an additional 665 shares during the period. Quest Partners LLC purchased a new position in MasterBrand in the 2nd quarter worth approximately $36,000. GAMMA Investing LLC raised 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 valued at $52,000 after purchasing an additional 890 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of MasterBrand in the 2nd quarter valued at approximately $75,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Insider Activity at MasterBrand

In related news, CAO Mark A. Young sold 4,715 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann F. Hackett sold 17,589 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 in the company, 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. In the last ninety days, insiders have sold 22,806 shares of company stock valued at $365,567. Corporate insiders own 1.38% of the company’s stock.

MasterBrand Stock Performance

Shares of MBC opened at $16.90 on Friday. The business’s 50 day moving average is $17.71 and its two-hundred day moving average is $16.59. MasterBrand, Inc. has a 52-week low of $12.70 and a 52-week high of $20.67. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 14.82 and a beta of 1.53. 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 announced its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%. The company had revenue of $718.10 million for the quarter.

Analysts Set New Price Targets

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

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.