MasterBrand (NYSE:MBC) Sees Large Volume Increase on Earnings Beat

Shares of MasterBrand, Inc. (NYSE:MBC) saw an uptick in trading volume on Wednesday following a stronger than expected earnings report. 1,192,210 shares traded hands during trading, an increase of 18% from the previous session’s volume of 1,008,148 shares.The stock last traded at $12.34 and had previously closed at $11.33.

The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.05). MasterBrand had a net margin of 3.74% and a return on equity of 12.60%. The business had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $663.95 million.

Analyst Ratings Changes

Several brokerages have recently commented on MBC. Loop Capital lowered their price objective on MasterBrand from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Zelman & Associates restated an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th.

Hedge Funds Weigh In On MasterBrand

Several large investors have recently made changes to their positions in the business. Gates Capital Management Inc. lifted its position in shares of MasterBrand by 1.9% in the first quarter. Gates Capital Management Inc. now owns 9,669,562 shares of the company’s stock worth $126,284,000 after buying an additional 179,984 shares in the last quarter. Boston Partners lifted its position in shares of MasterBrand by 49.5% in the first quarter. Boston Partners now owns 7,827,706 shares of the company’s stock worth $101,927,000 after buying an additional 2,590,583 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MasterBrand by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company’s stock worth $72,709,000 after buying an additional 226,818 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of MasterBrand by 45.3% in the second 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 in the last quarter. Finally, Coliseum Capital Management LLC bought a new stake in MasterBrand during the first quarter worth approximately $41,517,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Stock Up 9.1%

The company has a 50 day simple moving average of $11.01 and a two-hundred day simple moving average of $12.61. The company has a quick ratio of 1.10, a current ratio of 1.90 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.57 billion, a P/E ratio of 15.85 and a beta of 1.42.

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.