Charles Schwab Investment Management Inc. Grows Stake in MasterBrand, Inc. $MBC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in MasterBrand, Inc. by 4.4%, owning 2,510,270 shares valued at approximately $32.78 million.
• MasterBrand's earnings report showed $0.40 earnings per share, exceeding analysts' expectations of $0.34, with revenues reaching $730.90 million.
• Brokerages have reacted to MasterBrand's performance, with Loop Capital lowering its price target, while Wall Street Zen upgraded the stock from a "hold" to a "buy" rating.

Charles Schwab Investment Management Inc. grew its holdings in MasterBrand, Inc. (NYSE:MBC - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,510,270 shares of the company's stock after purchasing an additional 106,290 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.98% of MasterBrand worth $32,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Signaturefd LLC lifted its stake in shares of 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 purchasing an additional 1,328 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in 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 acquiring an additional 1,286 shares in the last quarter. Caxton Associates LP acquired a new position in MasterBrand during the 4th quarter worth about $148,000. Cetera Investment Advisers acquired a new position in MasterBrand during the 4th quarter worth about $164,000. Finally, Quantinno Capital Management LP acquired a new position in MasterBrand during the 4th quarter worth about $166,000. Institutional investors and hedge funds own 87.32% of the company's stock.

MasterBrand Stock Up 7.6%

NYSE MBC traded up $0.9350 during trading hours on Friday, hitting $13.2050. 1,264,121 shares of the company were exchanged, compared to its average volume of 1,786,413. The company has a 50 day moving average of $11.52 and a two-hundred day moving average of $12.20. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 0.73. MasterBrand, Inc. has a 52-week low of $9.63 and a 52-week high of $20.67. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 18.34 and a beta of 1.42.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $683.30 million.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen raised MasterBrand from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Loop Capital decreased their target price on MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, MasterBrand presently has a consensus rating of "Hold" and a consensus target price of $15.00.

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.