Creative Planning Reduces Stock Position in MasterBrand, Inc. (NYSE:MBC)

Creative Planning cut its stake in MasterBrand, Inc. (NYSE:MBC) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,516 shares of the company’s stock after selling 645 shares during the period. Creative Planning’s holdings in MasterBrand were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in shares of MasterBrand by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 69,879 shares of the company’s stock valued at $1,026,000 after purchasing an additional 1,216 shares during the last quarter. Maverick Capital Ltd. grew its position in shares of MasterBrand by 330.7% in the second quarter. Maverick Capital Ltd. now owns 103,313 shares of the company’s stock valued at $1,517,000 after purchasing an additional 79,328 shares during the last quarter. Dark Forest Capital Management LP grew its position in shares of MasterBrand by 81.2% in the second quarter. Dark Forest Capital Management LP now owns 18,654 shares of the company’s stock valued at $274,000 after purchasing an additional 8,360 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in MasterBrand by 15.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 14,837 shares of the company’s stock worth $218,000 after acquiring an additional 2,007 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in MasterBrand during the second quarter worth approximately $172,000. 87.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 45,148 shares of the company’s stock, valued at $737,266.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Mark A. Young sold 4,715 shares of MasterBrand stock in a transaction dated Friday, September 13th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann F. Hackett sold 17,589 shares of MasterBrand 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 completion of the transaction, the director now directly owns 45,520 shares of the company’s stock, valued at $726,044. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,806 shares of company stock valued at $365,567 in the last quarter. Company insiders own 1.38% of the company’s stock.

MasterBrand Stock Up 2.6 %

Shares of NYSE MBC opened at $18.74 on Thursday. MasterBrand, Inc. has a 1 year low of $10.53 and a 1 year high of $19.10. The firm’s 50 day moving average price is $16.75 and its 200 day moving average price is $16.52. The firm has a market cap of $2.38 billion, a P/E ratio of 13.20 and a beta of 1.49. 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 posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. MasterBrand had a net margin of 6.69% and a return on equity of 16.58%. The company had revenue of $676.50 million for the quarter.

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.