Alliancebernstein L.P. Acquires 1,228,317 Shares of MasterBrand, Inc. $MBC

Key Points

• Alliancebernstein L.P. significantly increased its stake in MasterBrand, Inc. by acquiring an additional 1,228,317 shares, bringing its total ownership to 1,382,566 shares, valued at approximately $18 million.
• MasterBrand reported quarterly earnings with an EPS of $0.40, exceeding analysts’ expectations of $0.34, and generated a revenue of $730.90 million against a forecast of $683.30 million.
• The stock of MasterBrand, listed as NYSE:MBC, has experienced fluctuations, showing a 52-week range between $9.63 and $20.67, with a current price of $12.86.

Alliancebernstein L.P. grew its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 796.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,382,566 shares of the company's stock after acquiring an additional 1,228,317 shares during the quarter. Alliancebernstein L.P. owned 1.09% of MasterBrand worth $18,056,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC increased its holdings in MasterBrand by 213.8% during the 1st quarter. Signaturefd LLC now owns 1,949 shares of the company's stock valued at $25,000 after purchasing an additional 1,328 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in MasterBrand in the 1st quarter valued at $49,000. Public Employees Retirement System of Ohio boosted its position in shares of MasterBrand by 36.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company's stock worth $70,000 after purchasing an additional 1,286 shares during the last quarter. Eisler Capital Management Ltd. bought a new position in shares of MasterBrand in the 1st quarter worth $135,000. Finally, Cetera Investment Advisers bought a new position in shares of MasterBrand in the 4th quarter worth $164,000. 87.32% of the stock is owned by institutional investors and hedge funds.

MasterBrand Stock Performance

NYSE MBC traded down $0.09 during trading on Tuesday, reaching $13.64. 2,004,113 shares of the company's stock were exchanged, compared to its average volume of 1,366,352. MasterBrand, Inc. has a fifty-two week low of $9.63 and a fifty-two week high of $20.67. The stock has a market capitalization of $1.73 billion, a P/E ratio of 18.94 and a beta of 1.43. The business has a 50 day moving average price of $12.29 and a 200-day moving average price of $11.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.87 and a quick ratio of 1.12.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. MasterBrand had a return on equity of 11.88% and a net margin of 3.37%.The company had revenue of $730.90 million during the quarter, compared to analysts' expectations of $683.30 million.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded MasterBrand from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.00.

MasterBrand 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.