MasterBrand, Inc. (NYSE:MBC) is Brightline Capital Management LLC’s 2nd Largest Position

Brightline Capital Management LLC grew its position in MasterBrand, Inc. (NYSE:MBC) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,005,000 shares of the company’s stock after acquiring an additional 20,000 shares during the quarter. MasterBrand comprises about 7.9% of Brightline Capital Management LLC’s portfolio, making the stock its 2nd largest position. Brightline Capital Management LLC owned 0.79% of MasterBrand worth $18,633,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in MasterBrand by 3.4% in the first quarter. Vanguard Group Inc. now owns 10,646,110 shares of the company’s stock worth $199,508,000 after purchasing an additional 346,346 shares during the last quarter. Foundry Partners LLC purchased a new position in MasterBrand during the 3rd quarter valued at $4,952,000. Jane Street Group LLC grew its position in MasterBrand by 345.8% in the 1st quarter. Jane Street Group LLC now owns 207,321 shares of the company’s stock valued at $3,885,000 after acquiring an additional 160,812 shares during the last quarter. Sei Investments Co. purchased a new stake in MasterBrand in the first quarter worth $643,000. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of MasterBrand during the third quarter worth $1,669,000. Institutional investors own 87.32% of the company’s stock.

Insider Buying and Selling

In other news, Director Ann F. Hackett sold 17,589 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total value of $280,544.55. Following the completion of the sale, the director now owns 45,520 shares in the company, valued at approximately $726,044. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark A. Young sold 4,715 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $16.33, for a total transaction of $76,995.95. Following the transaction, the chief accounting officer now owns 45,148 shares in the company, valued at approximately $737,266.84. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,806 shares of company stock valued at $365,567 over the last three months. 1.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

MasterBrand Trading Up 2.0 %

Shares of NYSE:MBC traded up $0.34 during trading on Wednesday, reaching $17.60. 9,728 shares of the company were exchanged, compared to its average volume of 918,180. The business’s fifty day simple moving average is $17.82 and its 200-day simple moving average is $16.58. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.02. MasterBrand, Inc. has a 12-month low of $13.16 and a 12-month high of $20.67. The firm has a market capitalization of $2.24 billion, a PE ratio of 15.14 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 the consensus estimate of $0.34 by $0.06. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%. The company had revenue of $718.10 million for the quarter.

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.