MasterBrand, Inc. $MBC Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of MasterBrand, Inc. (NYSE:MBC) by 79.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 967,572 shares of the company’s stock after selling 3,769,021 shares during the period. Thrivent Financial for Lutherans owned about 0.76% of MasterBrand worth $12,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pzena Investment Management LLC increased its stake in MasterBrand by 45.3% during the 2nd quarter. Pzena Investment Management LLC now owns 4,154,751 shares of the company’s stock worth $45,411,000 after buying an additional 1,295,267 shares during the period. Teacher Retirement System of Texas grew its stake in shares of MasterBrand by 80.1% during the third quarter. Teacher Retirement System of Texas now owns 1,924,823 shares of the company’s stock valued at $25,350,000 after acquiring an additional 856,342 shares in the last quarter. Boston Partners increased its position in shares of MasterBrand by 5.8% during the second quarter. Boston Partners now owns 8,280,239 shares of the company’s stock worth $90,632,000 after acquiring an additional 452,533 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of MasterBrand during the third quarter worth about $5,390,000. Finally, Nixon Capital LLC lifted its stake in shares of MasterBrand by 40.1% in the third quarter. Nixon Capital LLC now owns 1,230,596 shares of the company’s stock worth $16,207,000 after acquiring an additional 352,489 shares in the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Trading Up 2.2%

NYSE:MBC opened at $13.27 on Thursday. MasterBrand, Inc. has a 52 week low of $9.33 and a 52 week 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. The company has a market cap of $1.68 billion, a PE ratio of 20.73 and a beta of 1.46. The business’s 50 day moving average is $11.78 and its two-hundred day moving average is $12.11.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MBC shares. Weiss Ratings restated a “hold (c)” rating on shares of MasterBrand in a research note on Thursday, January 22nd. Wall Street Zen cut MasterBrand from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.00.

MasterBrand 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.