MasterBrand, Inc. (NYSE:MBC) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its stake in MasterBrand, Inc. (NYSE:MBC) by 55.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,464 shares of the company’s stock after selling 39,453 shares during the period. Cornercap Investment Counsel Inc.’s holdings in MasterBrand were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. SageView Advisory Group LLC bought a new position in shares of MasterBrand in the first quarter worth $25,000. 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 purchasing an additional 665 shares in the last quarter. Quest Partners LLC bought a new position in shares of MasterBrand in the second quarter worth $36,000. GAMMA Investing LLC grew its stake in shares of 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 in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of MasterBrand in the second quarter worth $75,000. 87.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MasterBrand

In other news, Director Ann F. Hackett sold 17,589 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 45,520 shares of the company’s stock, valued at $726,044. This represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark A. Young sold 4,715 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 45,148 shares of the company’s stock, 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 22,806 shares of company stock valued at $365,567 over the last 90 days. 1.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

MasterBrand Trading Down 0.6 %

NYSE:MBC opened at $16.90 on Friday. MasterBrand, Inc. has a 1 year low of $12.70 and a 1 year high of $20.67. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 14.82 and a beta of 1.53. The business has a fifty day moving average of $17.71 and a 200-day moving average of $16.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.02 and a current ratio of 1.82.

MasterBrand (NYSE:MBC) last announced its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share for the quarter, beating 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 business had revenue of $718.10 million during the quarter.

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.