CIBC Asset Management Inc Reduces Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

CIBC Asset Management Inc lowered its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 33.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,289 shares of the company’s stock after selling 6,122 shares during the quarter. CIBC Asset Management Inc’s holdings in MasterBrand were worth $180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of MBC. State Board of Administration of Florida Retirement System increased its position in MasterBrand by 246.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 154,393 shares of the company’s stock worth $2,893,000 after buying an additional 109,860 shares during the period. Goldman Sachs Group Inc. boosted its stake in MasterBrand by 23.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,797,378 shares of the company’s stock worth $26,691,000 after purchasing an additional 338,497 shares during the period. Vanguard Group Inc. grew its position in MasterBrand by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 10,646,110 shares of the company’s stock worth $199,508,000 after purchasing an additional 346,346 shares during the last quarter. Allianz Asset Management GmbH increased its stake in MasterBrand by 45.0% in the fourth quarter. Allianz Asset Management GmbH now owns 210,643 shares of the company’s stock valued at $3,128,000 after purchasing an additional 65,390 shares during the period. Finally, Trexquant Investment LP acquired a new position in MasterBrand in the fourth quarter valued at $975,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

MasterBrand Price Performance

Shares of MBC opened at $15.71 on Wednesday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.06 and a beta of 1.50. MasterBrand, Inc. has a fifty-two week low of $10.53 and a fifty-two week high of $19.07. The firm has a 50-day simple moving average of $15.96 and a 200-day simple moving average of $16.53. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.43 and a current ratio of 2.24.

MasterBrand (NYSE:MBC) last announced its earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. MasterBrand had a return on equity of 16.58% and a net margin of 6.69%. The company had revenue of $676.50 million for the quarter.

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.