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. raised its position in MasterBrand, Inc. (NYSE:MBC - Free Report) by 796.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,382,566 shares of the company's stock after acquiring an additional 1,228,317 shares during the period. Alliancebernstein L.P. owned about 1.09% of MasterBrand worth $18,056,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC lifted its stake in MasterBrand by 213.8% in the 1st quarter. Signaturefd LLC now owns 1,949 shares of the company's stock valued at $25,000 after acquiring an additional 1,328 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in MasterBrand in the 1st quarter valued at approximately $49,000. Public Employees Retirement System of Ohio raised its stake 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 worth $70,000 after purchasing an additional 1,286 shares in the last quarter. Eisler Capital Management Ltd. bought a new stake in shares of MasterBrand during the 1st quarter worth approximately $135,000. Finally, Cetera Investment Advisers bought a new stake in shares of MasterBrand during the 4th quarter worth approximately $164,000. Institutional investors own 87.32% of the company's stock.

MasterBrand Stock Down 0.1%

Shares of MasterBrand stock traded down $0.02 on Friday, reaching $13.47. 1,829,039 shares of the company were exchanged, compared to its average volume of 1,347,908. MasterBrand, Inc. has a one year low of $9.63 and a one year high of $20.67. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 18.71 and a beta of 1.43. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average of $12.20 and a 200 day moving average of $11.89.

MasterBrand (NYSE:MBC - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $683.30 million.

Analyst Upgrades and Downgrades

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

About MasterBrand

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.