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

Principal Financial Group Inc. lowered its position in MasterBrand, Inc. (NYSE:MBC) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 660,530 shares of the company’s stock after selling 16,897 shares during the period. Principal Financial Group Inc.’s holdings in MasterBrand were worth $12,246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SageView Advisory Group LLC purchased a new stake in shares of MasterBrand in the first quarter valued at about $25,000. Covestor Ltd raised its holdings in shares of MasterBrand by 71.4% in the first quarter. Covestor Ltd now owns 1,596 shares of the company’s stock valued at $30,000 after purchasing an additional 665 shares during the last quarter. Quest Partners LLC bought a new position in MasterBrand during the second quarter valued at about $36,000. GAMMA Investing LLC grew its position in MasterBrand by 46.3% during the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after buying an additional 890 shares during the period. Finally, nVerses Capital LLC bought a new position in MasterBrand during the second quarter valued at about $75,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

MasterBrand Price Performance

MBC opened at $16.90 on Friday. The firm has a market cap of $2.15 billion, a P/E ratio of 14.82 and a beta of 1.53. The firm has a 50-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, Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $20.67.

MasterBrand (NYSE:MBC) last posted its quarterly 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. The company had revenue of $718.10 million during the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other MasterBrand news, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total transaction 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 trade represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark A. Young sold 4,715 shares of the stock in a transaction dated Friday, September 13th. The stock was 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 of the company’s stock, valued at $737,266.84. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,806 shares of company stock worth $365,567 over the last quarter. 1.38% of the stock is currently owned by company insiders.

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.