Northern Trust Corp Cuts Holdings in MasterBrand, Inc. $MBC

Northern Trust Corp lessened its holdings in MasterBrand, Inc. (NYSE:MBC - Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,500,747 shares of the company's stock after selling 21,123 shares during the quarter. Northern Trust Corp owned approximately 1.18% of MasterBrand worth $19,600,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Gates Capital Management Inc. increased its holdings in MasterBrand by 7.5% in the fourth quarter. Gates Capital Management Inc. now owns 9,489,578 shares of the company's stock valued at $138,643,000 after buying an additional 658,807 shares during the last quarter. Boston Partners grew its holdings in shares of MasterBrand by 49.5% during the first quarter. Boston Partners now owns 7,827,706 shares of the company's stock worth $101,927,000 after purchasing an additional 2,590,583 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of MasterBrand by 0.4% during the first quarter. Pzena Investment Management LLC now owns 2,859,484 shares of the company's stock worth $37,345,000 after purchasing an additional 11,599 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of MasterBrand by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,510,270 shares of the company's stock worth $32,784,000 after purchasing an additional 106,290 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of MasterBrand by 2.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,415 shares of the company's stock worth $21,293,000 after purchasing an additional 31,449 shares during the last quarter. Hedge funds and other institutional investors own 87.32% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised MasterBrand from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, MasterBrand currently has an average rating of "Hold" and a consensus price target of $15.00.

MasterBrand Stock Performance

Shares of MBC traded up $0.43 during mid-day trading on Friday, hitting $13.49. 2,005,963 shares of the company's stock were exchanged, compared to its average volume of 1,565,797. MasterBrand, Inc. has a fifty-two week low of $9.63 and a fifty-two week high of $20.67. The firm has a market capitalization of $1.71 billion, a P/E ratio of 18.73 and a beta of 1.43. The business's 50 day moving average is $12.03 and its two-hundred day moving average is $11.91. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 0.73.

MasterBrand (NYSE:MBC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. MasterBrand had a net margin of 3.37% and a return on equity of 11.88%. The business had revenue of $730.90 million during the quarter, compared to the consensus estimate of $683.30 million.

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.