Principal Financial Group Inc. Increases Position in MasterBrand, Inc. (NYSE:MBC)

Principal Financial Group Inc. lifted its holdings in MasterBrand, Inc. (NYSE:MBC - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 707,817 shares of the company's stock after purchasing an additional 22,065 shares during the quarter. Principal Financial Group Inc. owned 0.55% of MasterBrand worth $9,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of MasterBrand by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company's stock worth $35,122,000 after acquiring an additional 311,286 shares during the period. Victory Capital Management Inc. raised its holdings in shares of MasterBrand by 4.8% in the fourth quarter. Victory Capital Management Inc. now owns 201,306 shares of the company's stock worth $2,941,000 after buying an additional 9,130 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of MasterBrand in the fourth quarter worth approximately $150,000. Raymond James Financial Inc. purchased a new position in MasterBrand during the 4th quarter worth $3,364,000. Finally, HighTower Advisors LLC increased its holdings in MasterBrand by 6.2% during the 4th quarter. HighTower Advisors LLC now owns 31,419 shares of the company's stock worth $459,000 after purchasing an additional 1,841 shares during the period. Hedge funds and other institutional investors own 87.32% of the company's stock.

Analyst Ratings Changes

MBC has been the subject of a number of recent analyst reports. Loop Capital lowered their price objective on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th.

MasterBrand Stock Performance

MBC traded down $0.22 on Friday, reaching $11.21. 192,589 shares of the stock were exchanged, compared to its average volume of 975,593. The company's 50-day moving average price is $10.74 and its 200 day moving average price is $12.98. MasterBrand, Inc. has a fifty-two week low of $9.63 and a fifty-two week high of $20.67. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.90 and a quick ratio of 1.10. The firm has a market capitalization of $1.42 billion, a PE ratio of 14.38 and a beta of 1.43.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). MasterBrand had a return on equity of 12.60% and a net margin of 3.74%. The firm had revenue of $660.30 million for the quarter, compared to analyst estimates of $663.95 million.

About MasterBrand

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.