Fmr LLC Cuts Position in MasterBrand, Inc. (NYSE:MBC)

Fmr LLC cut its stake in MasterBrand, Inc. (NYSE:MBC) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 137,999 shares of the company’s stock after selling 3,058 shares during the quarter. Fmr LLC’s holdings in MasterBrand were worth $2,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MBC. Quest Partners LLC purchased a new position in MasterBrand in the second quarter worth $36,000. GAMMA Investing LLC grew its position in MasterBrand by 46.3% in the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock worth $52,000 after acquiring an additional 890 shares in the last quarter. nVerses Capital LLC purchased a new position in MasterBrand in the second quarter worth $75,000. Optimum Investment Advisors grew its position in MasterBrand by 1,700.0% in the third quarter. Optimum Investment Advisors now owns 9,000 shares of the company’s stock worth $167,000 after acquiring an additional 8,500 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in MasterBrand in the second quarter worth $172,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Stock Performance

NYSE MBC opened at $16.23 on Friday. The company has a 50-day simple moving average of $17.48 and a two-hundred day simple moving average of $16.62. 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, Inc. has a 12-month low of $13.37 and a 12-month high of $20.67. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 14.24 and a beta of 1.35.

MasterBrand (NYSE:MBC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%. The business had revenue of $718.10 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Loop Capital upped their target price on shares of MasterBrand from $20.00 to $23.00 and gave the stock 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.