MasterBrand, Inc. $MBC Stock: Pzena Investment Management LLC Raises Stake

Key Points

• Pzena Investment Management increased its MasterBrand stake by 11.1% in the third quarter, adding about 1.70 million shares to hold roughly 8.37% of the company. Institutional investors collectively own 87.32% of MBC.
• MasterBrand reported quarterly revenue of $815.2 million, up 11.5% year over year and above estimates, but EPS of $0.05 missed the $0.10 consensus. The company also posted a negative net margin of 3.49%.
• Analysts’ average rating was “Reduce,” with a $10 price target; one rated the shares Hold and one Sell. An executive vice president separately sold 50,000 shares at an average price of $9.22.

Pzena Investment Management LLC grew its position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 11.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,027,986 shares of the company's stock after acquiring an additional 1,698,503 shares during the quarter. Pzena Investment Management LLC owned about 8.37% of MasterBrand worth $119,196,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MBC. Paradigm Capital Management Inc. NY acquired a new stake in shares of MasterBrand in the second quarter valued at $47,526,000. Monarch Alternative Capital LP acquired a new stake in MasterBrand in the 1st quarter valued at about $16,620,000. Ancora Advisors LLC bought a new position in shares of MasterBrand during the 2nd quarter valued at about $6,917,000. Dimensional Fund Advisors LP boosted its position in shares of MasterBrand by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,010,428 shares of the company's stock valued at $58,256,000 after purchasing an additional 447,352 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of MasterBrand by 613.4% during the 1st quarter. Quantinno Capital Management LP now owns 397,175 shares of the company's stock valued at $3,301,000 after purchasing an additional 341,499 shares in the last quarter. Institutional investors own 87.32% of the company's stock.

MasterBrand Trading Up 9.0%

Shares of MBC opened at $7.51 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.53 billion, a PE ratio of -10.88 and a beta of 1.45. The stock's fifty day simple moving average is $7.23 and its 200-day simple moving average is $8.82. MasterBrand, Inc. has a 12-month low of $6.17 and a 12-month high of $13.95.

MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). MasterBrand had a negative net margin of 3.49% and a positive return on equity of 3.65%. The business had revenue of $815.20 million during the quarter, compared to the consensus estimate of $743.05 million. During the same period in the previous year, the business posted $0.40 earnings per share. MasterBrand's revenue was up 11.5% compared to the same quarter last year. As a group, research analysts predict that MasterBrand, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MBC. DA Davidson reissued a "neutral" rating and set a $10.00 target price on shares of MasterBrand in a research note on Tuesday, October 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of MasterBrand in a research note on Friday, October 9th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MasterBrand currently has an average rating of "Reduce" and an average price target of $10.00.

Insider Activity

In related news, EVP Kurt Wanninger sold 50,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $9.22, for a total transaction of $461,000.00. Following the sale, the executive vice president owned 201,199 shares in the company, valued at approximately $1,855,054.78. This represents a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company's stock.

MasterBrand Company Profile

MasterBrand, Inc NYSE: MBC is a manufacturer of residential cabinetry and related products. The company designs and produces cabinets for kitchens, bathrooms, home offices, living areas and other spaces, serving both new construction and remodeling markets.

MasterBrand offers a range of cabinet styles, materials, finishes and price points through a portfolio of brands that includes Aristokraft, Cabinetry by Karman, Decora, Diamond, Homecrest, Kemper, Mantra, Omega and Schrock. Its products are sold through home improvement and specialty retailers, independent dealers, builders and other trade customers.

The company is based in Jasper, Indiana, and serves customers primarily in the United States and Canada.

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