Maryland State Retirement & Pension System Decreases Stock Holdings in MasterBrand, Inc. (NYSE:MBC)

Maryland State Retirement & Pension System trimmed its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 13.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,139 shares of the company’s stock after selling 5,771 shares during the period. Maryland State Retirement & Pension System’s holdings in MasterBrand were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of MasterBrand by 3.2% during the first quarter. Principal Financial Group Inc. now owns 707,817 shares of the company’s stock valued at $9,244,000 after purchasing an additional 22,065 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of MasterBrand by 53.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 33,995 shares of the company’s stock valued at $442,000 after purchasing an additional 11,774 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of MasterBrand by 23.1% during the fourth quarter. Bank of America Corp DE now owns 629,281 shares of the company’s stock valued at $9,194,000 after purchasing an additional 117,940 shares during the last quarter. Millennium Management LLC raised its holdings in shares of MasterBrand by 220.9% during the fourth quarter. Millennium Management LLC now owns 462,409 shares of the company’s stock valued at $6,756,000 after purchasing an additional 318,298 shares during the last quarter. Finally, Bryce Point Capital LLC purchased a new position in shares of MasterBrand during the first quarter valued at approximately $814,000. 87.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MBC. Loop Capital decreased their price objective on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Wall Street Zen raised shares of MasterBrand from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

MasterBrand Stock Down 4.2%

Shares of MBC stock opened at $12.73 on Friday. MasterBrand, Inc. has a 12 month low of $9.63 and a 12 month high of $20.67. The stock has a market cap of $1.61 billion, a P/E ratio of 17.67 and a beta of 1.42. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $11.28 and a two-hundred day simple moving average of $12.40.

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

About MasterBrand

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.