Thrivent Financial for Lutherans Grows Position in MasterBrand, Inc. (NYSE:MBC)

Thrivent Financial for Lutherans increased its holdings in MasterBrand, Inc. (NYSE:MBC) by 11.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,926,048 shares of the company’s stock after buying an additional 518,443 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MasterBrand were worth $91,329,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MBC. Covestor Ltd grew its stake in shares of MasterBrand by 71.4% in the first 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 stake in MasterBrand in the second quarter worth approximately $36,000. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 890 shares during the last quarter. nVerses Capital LLC bought a new stake in MasterBrand in the 2nd quarter worth approximately $75,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in MasterBrand during the 2nd quarter valued at $161,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Analyst Upgrades and Downgrades

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

MasterBrand Price Performance

NYSE MBC opened at $16.90 on Monday. The company has a 50-day moving average price of $17.71 and a 200-day moving average price of $16.59. MasterBrand, Inc. has a 52 week low of $12.70 and a 52 week high of $20.67. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $2.15 billion, a P/E ratio of 14.82 and a beta of 1.53.

MasterBrand (NYSE:MBC) last issued its quarterly earnings data 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. The firm had revenue of $718.10 million during the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.

Insider Buying and Selling at MasterBrand

In other MasterBrand news, CAO Mark A. Young sold 4,715 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $737,266.84. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann F. Hackett sold 17,589 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total transaction of $280,544.55. Following the sale, the director now owns 45,520 shares in the company, valued at $726,044. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,806 shares of company stock valued at $365,567. Company insiders own 1.38% of the company’s stock.

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.