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

GAMMA Investing LLC grew its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 1,550.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,083 shares of the company's stock after buying an additional 35,775 shares during the period. GAMMA Investing LLC's holdings in MasterBrand were worth $497,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Gates Capital Management Inc. lifted its holdings in MasterBrand by 7.5% in the 4th quarter. Gates Capital Management Inc. now owns 9,489,578 shares of the company's stock worth $138,643,000 after buying an additional 658,807 shares in the last quarter. Boston Partners raised its stake in MasterBrand by 82.2% during the fourth quarter. Boston Partners now owns 5,237,123 shares of the company's stock worth $76,558,000 after acquiring an additional 2,363,308 shares during the period. Thrivent Financial for Lutherans raised its stake in MasterBrand by 3.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company's stock worth $74,264,000 after acquiring an additional 156,993 shares during the period. Dimensional Fund Advisors LP raised its stake in MasterBrand by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company's stock worth $72,709,000 after acquiring an additional 226,818 shares during the period. Finally, Pzena Investment Management LLC raised its stake in MasterBrand by 0.3% during the fourth quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company's stock worth $41,608,000 after acquiring an additional 9,169 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th. Loop Capital dropped their price target on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th.

MasterBrand Price Performance

NYSE:MBC traded up $0.40 during trading hours on Monday, reaching $10.59. 640,133 shares of the company's stock were exchanged, compared to its average volume of 975,715. The company has a market capitalization of $1.34 billion, a P/E ratio of 13.58 and a beta of 1.43. MasterBrand, Inc. has a 12 month low of $9.63 and a 12 month high of $20.67. 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 business's 50-day simple moving average is $10.83 and its two-hundred day simple moving average is $13.45.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). MasterBrand had a return on equity of 12.60% and a net margin of 3.74%. The firm had revenue of $660.30 million during the quarter, compared to analyst estimates of $663.95 million.

MasterBrand declared that its Board of Directors has approved a stock repurchase program on Monday, March 17th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

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.