Public Sector Pension Investment Board Boosts Stake in MasterBrand, Inc. $MBC

Key Points

• The Public Sector Pension Investment Board increased its stake in MasterBrand, Inc. by 27.3% during the first quarter, owning approximately 0.32% of the company's shares worth $5.26 million after buying 86,425 shares.
• MasterBrand's stock has a market capitalization of $1.59 billion and reported a 12 month low of $9.63 and a 12 month high of $20.67.
• Analysts have recently upgraded MasterBrand from a "hold" to a "buy" rating, with Loop Capital adjusting its price target from $16.00 to $15.00.

Public Sector Pension Investment Board lifted its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 403,047 shares of the company's stock after purchasing an additional 86,425 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of MasterBrand worth $5,264,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of MasterBrand by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 707,817 shares of the company's stock worth $9,244,000 after purchasing an additional 22,065 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of MasterBrand by 53.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,995 shares of the company's stock worth $442,000 after purchasing an additional 11,774 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of MasterBrand by 23.1% during the 4th quarter. Bank of America Corp DE now owns 629,281 shares of the company's stock worth $9,194,000 after purchasing an additional 117,940 shares in the last quarter. Millennium Management LLC grew its holdings in shares of MasterBrand by 220.9% during the 4th quarter. Millennium Management LLC now owns 462,409 shares of the company's stock worth $6,756,000 after purchasing an additional 318,298 shares in the last quarter. Finally, Bryce Point Capital LLC acquired a new stake in shares of MasterBrand during the 1st quarter worth $814,000. 87.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MBC. Loop Capital dropped their price objective on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen raised MasterBrand from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, MasterBrand currently has a consensus rating of "Hold" and a consensus price target of $15.00.

MasterBrand Stock Performance

Shares of MBC traded up $0.8560 during mid-day trading on Friday, hitting $13.1260. The stock had a trading volume of 226,297 shares, compared to its average volume of 1,120,087. The firm has a market cap of $1.66 billion, a P/E ratio of 18.16 and a beta of 1.42. The business has a fifty day moving average price of $11.46 and a 200-day moving average price of $12.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.87 and a quick ratio of 1.12. MasterBrand, Inc. has a 52 week low of $9.63 and a 52 week high of $20.67.

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

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.