Corebridge Financial Inc. Decreases Holdings in MasterBrand, Inc. $MBC

Corebridge Financial Inc. trimmed its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,172 shares of the company’s stock after selling 1,299 shares during the quarter. Corebridge Financial Inc.’s holdings in MasterBrand were worth $864,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MBC. Susquehanna International Group LLP raised its position in shares of MasterBrand by 307.1% during the 4th quarter. Susquehanna International Group LLP now owns 130,490 shares of the company’s stock valued at $1,906,000 after buying an additional 98,439 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MasterBrand by 10.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,072 shares of the company’s stock valued at $1,434,000 after purchasing an additional 9,426 shares during the last quarter. Northern Trust Corp grew its holdings in MasterBrand by 14.1% during the 4th quarter. Northern Trust Corp now owns 1,521,870 shares of the company’s stock valued at $22,235,000 after purchasing an additional 187,666 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in MasterBrand by 109.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 41,700 shares of the company’s stock valued at $609,000 after purchasing an additional 21,780 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in MasterBrand by 590.5% during the 4th quarter. Jane Street Group LLC now owns 322,883 shares of the company’s stock valued at $4,717,000 after purchasing an additional 276,123 shares during the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Price Performance

Shares of MBC stock opened at $13.49 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.87 and a quick ratio of 1.12. The company has a market capitalization of $1.71 billion, a P/E ratio of 18.73 and a beta of 1.43. The company’s 50-day simple moving average is $12.03 and its two-hundred day simple moving average is $11.94. MasterBrand, Inc. has a one year low of $9.63 and a one year high of $20.67.

MasterBrand (NYSE:MBC) last issued its earnings results on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $730.90 million for the quarter, compared to the consensus estimate of $683.30 million. MasterBrand had a net margin of 3.37% and a return on equity of 11.88%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of MasterBrand from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, MasterBrand has an average rating of “Hold” and an average target price of $15.00.

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.