MasterBrand, Inc. $MBC Holdings Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in MasterBrand, Inc. (NYSE:MBC) by 79.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 967,572 shares of the company’s stock after selling 3,769,021 shares during the period. Thrivent Financial for Lutherans’ holdings in MasterBrand were worth $12,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MBC. Wealth Enhancement Advisory Services LLC raised its holdings in MasterBrand by 64.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,480 shares of the company’s stock worth $226,000 after purchasing an additional 7,660 shares in the last quarter. Strs Ohio increased its position in shares of MasterBrand by 253.2% during the 3rd quarter. Strs Ohio now owns 168,100 shares of the company’s stock valued at $2,214,000 after purchasing an additional 120,500 shares during the period. Nixon Capital LLC raised its stake in shares of MasterBrand by 40.1% in the 3rd quarter. Nixon Capital LLC now owns 1,230,596 shares of the company’s stock worth $16,207,000 after buying an additional 352,489 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of MasterBrand by 20.1% in the second quarter. Allianz Asset Management GmbH now owns 288,593 shares of the company’s stock valued at $3,154,000 after buying an additional 48,243 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in MasterBrand by 45.3% during the second quarter. Pzena Investment Management LLC now owns 4,154,751 shares of the company’s stock valued at $45,411,000 after buying an additional 1,295,267 shares in the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

MasterBrand Trading Up 2.2%

NYSE:MBC opened at $13.27 on Thursday. The stock has a fifty day simple moving average of $11.78 and a 200 day simple moving average of $12.11. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 20.73 and a beta of 1.46. MasterBrand, Inc. has a 1-year low of $9.33 and a 1-year high of $17.39. The company has a quick ratio of 1.13, a current ratio of 1.87 and a debt-to-equity ratio of 0.69.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). MasterBrand had a net margin of 3.00% and a return on equity of 10.88%. The firm had revenue of $698.90 million for the quarter, compared to analysts’ expectations of $678.60 million. During the same period in the prior year, the company posted $0.40 earnings per share. MasterBrand’s quarterly revenue was down 2.7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of MasterBrand from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of MasterBrand in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.00.

MasterBrand Company Profile

MasterBrand Inc is one of the largest manufacturers of cabinetry and home storage solutions in North America. The company specializes in designing, producing and distributing kitchen and bath cabinetry for both new construction and the remodeling markets. Its offerings span a broad spectrum of styles and price points, serving homebuilders, home improvement retailers and independent dealers.

MasterBrand’s product portfolio includes framed and frameless cabinet lines, bath vanities, closet systems and other organizational accessories.