Pacer Advisors Inc. Lowers Holdings in MasterBrand, Inc. (NYSE:MBC)

Pacer Advisors Inc. lowered its position in shares of MasterBrand, Inc. (NYSE:MBC) by 23.7% in the third quarter, Holdings Channel reports. The institutional investor owned 5,164,670 shares of the company’s stock after selling 1,603,505 shares during the period. Pacer Advisors Inc.’s holdings in MasterBrand were worth $95,753,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in MasterBrand by 71.4% during the first quarter. Covestor Ltd now owns 1,596 shares of the company’s stock worth $30,000 after buying an additional 665 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of MasterBrand in the 2nd quarter worth approximately $36,000. GAMMA Investing LLC increased its stake in MasterBrand by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after purchasing an additional 890 shares in the last quarter. nVerses Capital LLC purchased a new position in MasterBrand in the 2nd quarter valued at approximately $75,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in MasterBrand during the second quarter worth $161,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

MasterBrand Stock Performance

MasterBrand stock opened at $16.71 on Friday. The stock has a fifty day moving average price of $17.78 and a 200 day moving average price of $16.58. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. MasterBrand, Inc. has a 52 week low of $12.99 and a 52 week high of $20.67. The firm has a market capitalization of $2.12 billion, a P/E ratio of 14.66 and a beta of 1.53.

MasterBrand (NYSE:MBC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $718.10 million during the quarter. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%.

Insider Transactions at MasterBrand

In other MasterBrand news, 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 transaction of $280,544.55. Following the sale, the director now owns 45,520 shares in the company, valued at $726,044. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $76,995.95. Following the completion of the transaction, the chief accounting officer now owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. The trade was a 9.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,806 shares of company stock valued at $365,567. Corporate insiders own 1.38% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Loop Capital boosted their target price on shares of MasterBrand from $20.00 to $23.00 and gave the company a “buy” rating in a research note 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.