Millennium Management LLC Increases Stock Position in MasterBrand, Inc. (NYSE:MBC)

Millennium Management LLC raised its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 220.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 462,409 shares of the company's stock after acquiring an additional 318,298 shares during the quarter. Millennium Management LLC owned approximately 0.36% of MasterBrand worth $6,756,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MBC. Gates Capital Management Inc. raised 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 valued at $138,643,000 after buying an additional 658,807 shares during the last quarter. Boston Partners increased its position in MasterBrand by 82.2% during the 4th quarter. Boston Partners now owns 5,237,123 shares of the company's stock valued at $76,558,000 after purchasing an additional 2,363,308 shares during the period. Thrivent Financial for Lutherans increased its position in MasterBrand by 3.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company's stock valued at $74,264,000 after purchasing an additional 156,993 shares during the period. Dimensional Fund Advisors LP grew its position in shares of MasterBrand by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company's stock worth $72,709,000 after buying an additional 226,818 shares during the period. Finally, Pzena Investment Management LLC grew its position in shares of MasterBrand by 0.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,847,885 shares of the company's stock worth $41,608,000 after buying an additional 9,169 shares during the period. Institutional investors own 87.32% of the company's stock.

MasterBrand Price Performance

Shares of MBC traded down $0.06 during midday trading on Friday, hitting $10.21. 954,189 shares of the company traded hands, compared to its average volume of 982,720. The stock has a 50-day moving average of $11.52 and a 200-day moving average of $14.22. MasterBrand, Inc. has a one year low of $9.63 and a one year high of $20.67. The firm has a market cap of $1.29 billion, a P/E ratio of 10.53 and a beta of 1.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02.

MasterBrand (NYSE:MBC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). MasterBrand had a net margin of 4.66% and a return on equity of 13.89%. The company had revenue of $660.30 million for the quarter, compared to the consensus estimate of $663.95 million.

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

Wall Street Analyst Weigh In

MBC has been the subject of several analyst reports. Loop Capital lowered their price objective on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th.

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.