Hennessy Advisors Inc. Sells 56,400 Shares of MasterBrand, Inc. (NYSE:MBC)

Hennessy Advisors Inc. lessened its holdings in MasterBrand, Inc. (NYSE:MBC - Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 493,500 shares of the company's stock after selling 56,400 shares during the quarter. Hennessy Advisors Inc. owned 0.39% of MasterBrand worth $6,445,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MBC. Bank of America Corp DE boosted its stake in MasterBrand by 23.1% in the 4th quarter. Bank of America Corp DE now owns 629,281 shares of the company's stock valued at $9,194,000 after buying an additional 117,940 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of MasterBrand by 220.9% during the fourth quarter. Millennium Management LLC now owns 462,409 shares of the company's stock valued at $6,756,000 after acquiring an additional 318,298 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MasterBrand by 135.1% in the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company's stock valued at $10,128,000 after purchasing an additional 398,303 shares in the last quarter. Susquehanna International Group LLP boosted its stake in shares of MasterBrand by 307.1% in the 4th quarter. Susquehanna International Group LLP now owns 130,490 shares of the company's stock valued at $1,906,000 after purchasing an additional 98,439 shares in the last quarter. Finally, EMG Holdings L.P. bought a new stake in shares of MasterBrand in the 4th quarter worth about $2,865,000. Institutional investors and hedge funds own 87.32% of the company's stock.

MasterBrand Price Performance

MBC traded up $0.08 during trading on Wednesday, hitting $9.98. The company's stock had a trading volume of 302,992 shares, compared to its average volume of 980,673. 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 stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.78 and a beta of 1.42. The firm's 50 day moving average price is $10.98 and its two-hundred day moving average price is $13.66. MasterBrand, Inc. has a 12 month low of $9.63 and a 12 month high of $20.67.

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

MasterBrand declared that its Board of Directors has initiated a share buyback program on Monday, March 17th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MBC shares. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th. Loop Capital dropped their price objective on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 7th.

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.