Pacer Advisors Inc. Sells 1,603,505 Shares of MasterBrand, Inc. (NYSE:MBC)

Pacer Advisors Inc. cut its holdings in MasterBrand, Inc. (NYSE:MBC) by 23.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,164,670 shares of the company’s stock after selling 1,603,505 shares during the period. Pacer Advisors Inc. owned 4.06% of MasterBrand worth $95,753,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in MasterBrand by 3.4% during the first quarter. Vanguard Group Inc. now owns 10,646,110 shares of the company’s stock valued at $199,508,000 after purchasing an additional 346,346 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of MasterBrand by 11.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company’s stock valued at $91,329,000 after buying an additional 518,443 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in MasterBrand by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,546,152 shares of the company’s stock worth $66,738,000 after buying an additional 497,327 shares during the period. Pzena Investment Management LLC increased its stake in MasterBrand by 1.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,838,716 shares of the company’s stock worth $52,630,000 after buying an additional 35,497 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in MasterBrand by 7.0% during the second quarter. Renaissance Technologies LLC now owns 1,442,018 shares of the company’s stock valued at $21,169,000 after acquiring an additional 94,800 shares during the period. 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 firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total transaction of $280,544.55. Following the sale, the director now owns 45,520 shares of the company’s stock, valued at $726,044. This trade 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 this link. 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 transaction of $76,995.95. Following the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,806 shares of company stock worth $365,567. 1.38% of the stock is owned by company insiders.

MasterBrand Price Performance

Shares of MBC stock opened at $16.71 on Friday. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 14.66 and a beta of 1.53. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. MasterBrand, Inc. has a twelve month low of $12.99 and a twelve month high of $20.67. The stock has a fifty day simple moving average of $17.78 and a two-hundred day simple moving average of $16.58.

MasterBrand (NYSE:MBC) last posted its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter.

Analyst Upgrades and Downgrades

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

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.