Sandy Spring Bank cut its stake in MasterBrand, Inc. (NYSE:MBC – Free Report) by 65.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,913 shares of the company’s stock after selling 17,105 shares during the period. Sandy Spring Bank’s holdings in MasterBrand were worth $72,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of MasterBrand by 75.6% during the 1st quarter. Barclays PLC now owns 175,652 shares of the company’s stock worth $1,412,000 after acquiring an additional 75,607 shares during the period. Mutual of America Capital Management LLC bought a new position in shares of MasterBrand during the 1st quarter worth about $212,000. Factorial Partners LLC lifted its holdings in shares of MasterBrand by 20.7% during the 1st quarter. Factorial Partners LLC now owns 52,400 shares of the company’s stock worth $421,000 after acquiring an additional 9,000 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of MasterBrand by 32.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 115,009 shares of the company’s stock worth $925,000 after acquiring an additional 28,102 shares during the period. Finally, abrdn plc lifted its holdings in shares of MasterBrand by 44.4% during the 1st quarter. abrdn plc now owns 28,450 shares of the company’s stock worth $229,000 after acquiring an additional 8,753 shares during the period. 88.13% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Loop Capital raised their price objective on shares of MasterBrand from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, July 24th.
MasterBrand Trading Up 0.5 %
Shares of MasterBrand stock opened at $12.40 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 1.19 and a debt-to-equity ratio of 0.88. The company has a 50-day simple moving average of $11.55 and a 200 day simple moving average of $9.85. MasterBrand, Inc. has a 12-month low of $7.08 and a 12-month high of $15.00.
MasterBrand (NYSE:MBC – Get Free Report) last announced its earnings results on Tuesday, May 9th. The company reported $0.28 earnings per share (EPS) for the quarter. The firm had revenue of $676.70 million for the quarter.
About MasterBrand
MasterBrand, Inc manufactures and sells residential cabinetry products for the kitchen, bathroom, and other parts of the home in North America. The company offers a range of cabinetry products under the Aristokraft, Decora, Diamond, Fieldstone Cabinetry, Homecrest, Kemper, KitchenCraft Cabinetry, Mantra, MC mid continent Cabinetry, Omega Cabinetry, Schrock, Starmark Cabinetry, Ultracraft, and Urban Effect Cabinetry brands.
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