PNC Financial Services Group Inc. Has $1.33 Million Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

PNC Financial Services Group Inc. lowered its position in shares of MasterBrand, Inc. (NYSE:MBC) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,323 shares of the company’s stock after selling 3,231 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MasterBrand were worth $1,334,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Thrivent Financial for Lutherans raised its stake in MasterBrand by 11.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company’s stock worth $91,329,000 after purchasing an additional 518,443 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of MasterBrand by 4.2% during the third quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company’s stock worth $63,053,000 after purchasing an additional 135,693 shares during the period. Pzena Investment Management LLC raised its position in shares of MasterBrand by 1.3% in the third quarter. Pzena Investment Management LLC now owns 2,838,716 shares of the company’s stock valued at $52,630,000 after buying an additional 35,497 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of MasterBrand by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company’s stock valued at $35,122,000 after buying an additional 311,286 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MasterBrand by 58.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,425,966 shares of the company’s stock worth $26,437,000 after buying an additional 528,537 shares in the last quarter. Institutional investors own 87.32% of the company’s stock.

MasterBrand Trading Up 2.9 %

Shares of MasterBrand stock opened at $13.38 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.78. MasterBrand, Inc. has a 12-month low of $12.68 and a 12-month high of $20.67. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.79 and a beta of 1.77. The firm’s 50-day moving average price is $15.67 and its two-hundred day moving average price is $16.47.

MasterBrand (NYSE:MBC) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). The firm had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

Insider Activity

In related news, Director Robert Crisci acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $14.08 per share, with a total value of $281,600.00. Following the purchase, the director now directly owns 66,435 shares in the company, valued at approximately $935,404.80. This trade represents a 43.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Juliana L. Chugg bought 6,989 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were bought at an average cost of $14.17 per share, for a total transaction of $99,034.13. Following the purchase, the director now owns 33,424 shares of the company’s stock, valued at approximately $473,618.08. The trade was a 26.44 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Loop Capital dropped their price objective on MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, February 19th.

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.