Gates Capital Management Inc. Grows Position in MasterBrand, Inc. $MBC

Key Points

• Gates Capital Management Inc. increased its stake in MasterBrand, Inc. by 1.9% in the first quarter, now holding approximately 9.67 million shares worth about $126.28 million.
• The stock has shown growth potential, with a reported quarterly EPS of $0.40 exceeding analysts' expectations by $0.06 and revenues reaching $730.90 million.
• MasterBrand's average rating is currently a "Hold," with a consensus target price of $15.00 following a recent upgrade from "hold" to "buy" by Wall Street Zen.

Gates Capital Management Inc. increased its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,669,562 shares of the company's stock after purchasing an additional 179,984 shares during the quarter. MasterBrand makes up approximately 2.5% of Gates Capital Management Inc.'s portfolio, making the stock its 11th biggest holding. Gates Capital Management Inc. owned 7.63% of MasterBrand worth $126,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of MBC. Boston Partners boosted 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 valued at $101,927,000 after acquiring an additional 2,590,583 shares during the period. Pacer Advisors Inc. bought a new stake in shares of MasterBrand during the 1st quarter valued at about $15,250,000. Polar Capital Holdings Plc purchased a new position in shares of MasterBrand during the fourth quarter worth about $8,373,000. Nuveen LLC bought a new position in shares of MasterBrand in the first quarter worth approximately $4,646,000. Finally, Millennium Management LLC raised its stake in MasterBrand by 220.9% in the fourth quarter. Millennium Management LLC now owns 462,409 shares of the company's stock valued at $6,756,000 after purchasing an additional 318,298 shares in the last quarter. 87.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MBC shares. Wall Street Zen raised shares of MasterBrand from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Loop Capital lowered their price target on MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, MasterBrand has an average rating of "Hold" and a consensus target price of $15.00.

MasterBrand Stock Up 4.8%

NYSE MBC traded up $0.60 during mid-day trading on Thursday, reaching $13.09. The stock had a trading volume of 1,714,892 shares, compared to its average volume of 1,135,274. The stock has a market cap of $1.66 billion, a PE ratio of 18.17 and a beta of 1.43. 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, Inc. has a 1 year low of $9.63 and a 1 year high of $20.67. The company has a fifty day moving average price of $11.93 and a 200 day moving average price of $11.98.

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

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.