Victory Capital Management Inc. Boosts Stock Position in MasterBrand, Inc. (NYSE:MBC)

Key Points

• Victory Capital Management Inc. increased its stake in MasterBrand by 67.7% during the first quarter, now holding 337,597 shares valued at approximately $4.4 million.
• MasterBrand's most recent earnings report showed $0.18 EPS, missing the consensus estimate by $0.05, with revenue of $660.3 million against expectations of $663.95 million.
• Multiple analysts have issued new price targets for MasterBrand, with Loop Capital lowering its target from $16.00 to $15.00 while maintaining a "buy" rating.

Victory Capital Management Inc. boosted its holdings in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 67.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 337,597 shares of the company's stock after purchasing an additional 136,291 shares during the period. Victory Capital Management Inc. owned about 0.27% of MasterBrand worth $4,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MBC. Proficio Capital Partners LLC purchased a new position in shares of MasterBrand during the 4th quarter valued at approximately $150,000. HighTower Advisors LLC increased its holdings in MasterBrand by 6.2% in the fourth quarter. HighTower Advisors LLC now owns 31,419 shares of the company's stock valued at $459,000 after buying an additional 1,841 shares in the last quarter. American Century Companies Inc. raised its position in shares of MasterBrand by 7.5% in the fourth quarter. American Century Companies Inc. now owns 315,622 shares of the company's stock worth $4,611,000 after acquiring an additional 22,034 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of MasterBrand during the 4th quarter worth about $409,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of MasterBrand by 7.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 261,199 shares of the company's stock valued at $3,816,000 after acquiring an additional 18,117 shares during the period. 87.32% of the stock is currently owned by institutional investors and hedge funds.

MasterBrand Price Performance

MBC stock traded down $0.28 during trading on Wednesday, hitting $11.26. The stock had a trading volume of 622,056 shares, compared to its average volume of 675,571. MasterBrand, Inc. has a twelve month low of $9.63 and a twelve month high of $20.67. The company's 50-day moving average price is $10.87 and its two-hundred day moving average price is $12.78. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.90 and a quick ratio of 1.10. The stock has a market capitalization of $1.43 billion, a P/E ratio of 14.44 and a beta of 1.43.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $663.95 million.

Wall Street Analysts Forecast Growth

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

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.