MasterBrand (NYSE:MBC) Sets New 52-Week High Following Analyst Upgrade

MasterBrand, Inc. (NYSE:MBC) reached a new 52-week high on Thursday after Loop Capital raised their price target on the stock from $20.00 to $23.00. Loop Capital currently has a buy rating on the stock. MasterBrand traded as high as $19.13 and last traded at $19.04, with a volume of 361718 shares changing hands. The stock had previously closed at $18.74.

Insider Transactions at MasterBrand

In related news, Director Ann F. Hackett sold 17,589 shares of the 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 completion of the sale, the director now directly owns 45,520 shares of the company’s stock, valued at approximately $726,044. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Mark A. Young sold 4,715 shares of MasterBrand 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 owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann F. Hackett sold 17,589 shares of the company’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 value of $280,544.55. Following the completion of the transaction, the director now owns 45,520 shares of the company’s stock, valued at $726,044. The trade was 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 over the last quarter. 1.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MasterBrand

Several institutional investors and hedge funds have recently modified their holdings of MBC. Bridgeway Capital Management LLC purchased a new position in MasterBrand during the first quarter valued at $20,894,000. Mawer Investment Management Ltd. bought a new stake in shares of MasterBrand in the second quarter worth about $9,873,000. Empowered Funds LLC purchased a new stake in shares of MasterBrand in the first quarter worth about $10,212,000. Dimensional Fund Advisors LP boosted its stake in MasterBrand by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,546,152 shares of the company’s stock valued at $66,738,000 after buying an additional 497,327 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in MasterBrand during the 2nd quarter valued at approximately $6,710,000. Institutional investors own 87.32% of the company’s stock.

MasterBrand Trading Up 0.7 %

The firm has a market cap of $2.44 billion, a P/E ratio of 13.52 and a beta of 1.49. The stock has a 50 day simple moving average of $16.90 and a 200-day simple moving average of $16.55. The company has a current ratio of 2.24, a quick ratio of 1.43 and a debt-to-equity ratio of 0.55.

MasterBrand (NYSE:MBC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 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.