GAMMA Investing LLC Buys 35,775 Shares of MasterBrand, Inc. (NYSE:MBC)

GAMMA Investing LLC boosted its stake in MasterBrand, Inc. (NYSE:MBC) by 1,550.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,083 shares of the company’s stock after purchasing an additional 35,775 shares during the period. GAMMA Investing LLC’s holdings in MasterBrand were worth $497,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its stake in shares of MasterBrand by 150.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company’s stock worth $37,000 after acquiring an additional 1,549 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of MasterBrand by 36.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company’s stock valued at $70,000 after acquiring an additional 1,286 shares during the period. Caxton Associates LP bought a new stake in shares of MasterBrand during the 4th quarter valued at $148,000. Proficio Capital Partners LLC bought a new stake in shares of MasterBrand during the 4th quarter valued at $150,000. Finally, Cetera Investment Advisers bought a new stake in shares of MasterBrand during the 4th quarter valued at $164,000. Institutional investors own 87.32% of the company’s stock.

MasterBrand Trading Up 0.8%

Shares of MBC stock opened at $9.98 on Friday. MasterBrand, Inc. has a 1 year low of $9.63 and a 1 year high of $20.67. The firm has a fifty day moving average price of $10.90 and a 200-day moving average price of $13.58. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.90 and a quick ratio of 1.10. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 12.79 and a beta of 1.42.

MasterBrand (NYSE:MBC) last released its earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). MasterBrand had a net margin of 3.74% and a return on equity of 12.60%. The firm had revenue of $660.30 million for the quarter, compared to analysts’ expectations of $663.95 million.

MasterBrand declared that its board has authorized a share repurchase plan on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

MBC has been the subject of a number of recent research reports. Loop Capital cut their price objective on shares of MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Zelman & Associates reissued an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th.

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.