Nuveen LLC Purchases New Holdings in MasterBrand, Inc. $MBC

Key Points

• Nuveen LLC has made a new investment in MasterBrand, Inc., acquiring 355,740 shares valued at approximately $4.6 million, which represents about 0.28% of the company's stock.
• MasterBrand's shares recently opened at $13.28 and reported a revenue of $730.90 million for the last quarter, exceeding estimates.
• Analysts have shown mixed sentiments, with Wall Street Zen upgrading MasterBrand to a "buy" rating, while Loop Capital cut its price target from $16.00 to $15.00.

Nuveen LLC bought a new position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 355,740 shares of the company's stock, valued at approximately $4,646,000. Nuveen LLC owned 0.28% of MasterBrand at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MBC. Pacer Advisors Inc. acquired a new position in MasterBrand during the 1st quarter worth about $15,250,000. Gates Capital Management Inc. grew its stake in MasterBrand by 7.5% during the fourth quarter. Gates Capital Management Inc. now owns 9,489,578 shares of the company's stock worth $138,643,000 after purchasing an additional 658,807 shares during the period. Polar Capital Holdings Plc acquired a new stake in MasterBrand during the fourth quarter worth approximately $8,373,000. Millennium Management LLC lifted 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 buying an additional 318,298 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of MasterBrand by 590.5% during the 4th quarter. Jane Street Group LLC now owns 322,883 shares of the company's stock worth $4,717,000 after buying an additional 276,123 shares in the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MBC. Loop Capital dropped their target price on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of MasterBrand from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $15.00.

MasterBrand Stock Down 0.7%

NYSE MBC traded down $0.09 during mid-day trading on Friday, hitting $12.72. The company's stock had a trading volume of 772,864 shares, compared to its average volume of 1,970,824. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 17.66 and a beta of 1.42. MasterBrand, Inc. has a twelve month low of $9.63 and a twelve month high of $20.67. The company's 50 day simple moving average is $11.82 and its 200 day simple moving average is $12.04. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 0.73.

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

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.