MasterBrand, Inc.’s (NYSE:MBC) Vice President and Chief Accounting Officer, Mark A. Young, has recently sold a portion of his company stock, according to the latest filings. On September 13, 2024, Young sold 4,715 shares of MasterBrand common stock at prices ranging from $16.33 to $16.35 per share, with the volume-weighted average price being $16.3315. The total value of the stock sold amounts to approximately $77,003.
The transactions took place in multiple trades, and the exact number of shares sold at each price point can be provided by Young upon request from the Securities and Exchange Commission (SEC), MasterBrand, or any of its security holders. Following this sale, Young still holds a significant amount of company stock, including 36,040 Restricted Stock Units (RSUs) that have not yet vested, as indicated in the filing’s footnotes.
MasterBrand, known for its wood household furniture manufacturing, has not provided any additional comments on the transaction. The stock sale was conducted legally, with all necessary documentation filed with the SEC. Shareholders and potential investors in MasterBrand, Inc. can access full details of the transaction upon request.
In other recent news, MasterBrand, Inc. has amended its bylaws to enhance disclosure requirements for shareholder proposals. This change was adopted by the Board of Directors following a periodic review of corporate governance matters. The specifics of the amendments have yet to be disclosed by the company.
MasterBrand reported a 3% decrease in net sales for Q2 2024, totaling $677 million. Despite this, the company experienced growth in new construction sales and completed the acquisition of Supreme Cabinetry Brands for $520 million. This acquisition is expected to contribute to the company’s net sales growth throughout the year.
MasterBrand also restructured its debt, improving its capital structure. The adjusted EBITDA for the quarter was $105 million, with a 15.5% margin. The full-year adjusted EBITDA outlook has been raised to between $385 million and $405 million. Despite these positive developments, the company anticipates potential declines in the repair and remodel market.
InvestingPro Insights
As MasterBrand, Inc. (NYSE:MBC) navigates the market following the recent stock sale by its Vice President and Chief Accounting Officer, Mark A. Young, the company’s financial health and stock performance metrics become a focal point for investors. According to InvestingPro data, MasterBrand…
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