PNC Financial Services Group Inc. Buys 1,107 Shares of MasterBrand, Inc. (NYSE:MBC)

PNC Financial Services Group Inc. increased its position in MasterBrand, Inc. (NYSE:MBC) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 94,554 shares of the company’s stock after purchasing an additional 1,107 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MasterBrand were worth $1,753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in MasterBrand by 2.1% in the second quarter. Arizona State Retirement System now owns 35,554 shares of the company’s stock valued at $522,000 after acquiring an additional 717 shares during the period. Quest Partners LLC lifted its holdings in shares of MasterBrand by 33.3% in the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock worth $61,000 after purchasing an additional 821 shares in the last quarter. GAMMA Investing LLC grew its position in MasterBrand by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after purchasing an additional 890 shares during the period. Wedge Capital Management L L P NC increased its stake in MasterBrand by 1.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 63,799 shares of the company’s stock valued at $937,000 after purchasing an additional 942 shares in the last quarter. Finally, North Growth Management Ltd. raised its holdings in MasterBrand by 0.6% during the third quarter. North Growth Management Ltd. now owns 180,000 shares of the company’s stock worth $3,336,000 after buying an additional 1,000 shares during the last quarter. 87.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

MasterBrand Price Performance

MBC stock opened at $17.26 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.02 and a current ratio of 1.82. The business has a 50-day simple moving average of $17.82 and a two-hundred day simple moving average of $16.58. The company has a market capitalization of $2.19 billion, a P/E ratio of 15.14 and a beta of 1.53. MasterBrand, Inc. has a 52-week low of $13.16 and a 52-week high of $20.67.

MasterBrand (NYSE:MBC) last announced its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. The company had revenue of $718.10 million for the quarter. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%.

Insider Activity at MasterBrand

In other MasterBrand 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 value of $280,544.55. Following the completion of the transaction, the director now owns 45,520 shares in the company, valued at $726,044. This represents a 27.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark A. Young sold 4,715 shares of the firm’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 have sold 22,806 shares of company stock valued at $365,567 over the last ninety days. Corporate insiders own 1.38% of the company’s stock.

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.