Voya Investment Management LLC Trims Stake in MasterBrand, Inc. $MBC

Voya Investment Management LLC lessened its position in MasterBrand, Inc. (NYSE:MBC) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,192 shares of the company’s stock after selling 11,198 shares during the quarter. Voya Investment Management LLC’s holdings in MasterBrand were worth $447,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of MasterBrand by 3.2% in the 1st 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 period. Allspring Global Investments Holdings LLC grew its holdings in MasterBrand by 53.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,995 shares of the company’s stock valued at $442,000 after buying an additional 11,774 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of MasterBrand by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,510,270 shares of the company’s stock valued at $32,784,000 after purchasing an additional 106,290 shares during the period. Bryce Point Capital LLC acquired a new position in shares of MasterBrand during the first quarter worth about $814,000. Finally, Nuveen LLC purchased a new stake in shares of MasterBrand during the first quarter worth about $4,646,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

MasterBrand Stock Up 6.3%

MasterBrand stock opened at $13.70 on Friday. MasterBrand, Inc. has a fifty-two week low of $9.63 and a fifty-two week high of $20.67. The firm has a market capitalization of $1.74 billion, a PE ratio of 19.02 and a beta of 1.43. The company’s 50-day moving average is $12.55 and its 200-day moving average is $11.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.87 and a quick ratio of 1.12.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $730.90 million during 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 MasterBrand from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.00.

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.