Pzena Investment Management LLC Raises Stock Position in MasterBrand, Inc. $MBC

Key Points

• Pzena Investment Management LLC increased its stake in MasterBrand, Inc. by 45.3%, owning approximately 3.28% of the company after acquiring an additional 1,295,267 shares.
• MasterBrand's recent stock performance shows a price of $12.68 with a market capitalization of $1.61 billion, and shares fluctuating between a 52-week low of $9.63 and a high of $20.67.
• According to analysts' ratings, MasterBrand has a consensus rating of "Hold" with an average target price of $15.00.

Pzena Investment Management LLC lifted its stake in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) by 45.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,154,751 shares of the company's stock after acquiring an additional 1,295,267 shares during the quarter. Pzena Investment Management LLC owned approximately 3.28% of MasterBrand worth $45,411,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Personalized Indexing Management LLC increased its position in shares of MasterBrand by 17.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,246 shares of the company's stock worth $199,000 after acquiring an additional 2,743 shares during the period. SummerHaven Investment Management LLC increased its position in shares of MasterBrand by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 55,891 shares of the company's stock worth $611,000 after acquiring an additional 1,252 shares during the period. State of Alaska Department of Revenue increased its position in shares of MasterBrand by 7.2% during the second quarter. State of Alaska Department of Revenue now owns 75,499 shares of the company's stock worth $824,000 after acquiring an additional 5,072 shares during the period. Wedge Capital Management L L P NC increased its position in shares of MasterBrand by 56.7% during the second quarter. Wedge Capital Management L L P NC now owns 151,743 shares of the company's stock worth $1,659,000 after acquiring an additional 54,887 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of MasterBrand by 64.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,480 shares of the company's stock worth $226,000 after acquiring an additional 7,660 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.

MasterBrand Stock Performance

Shares of NYSE:MBC opened at $12.68 on Monday. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 17.61 and a beta of 1.42. MasterBrand, Inc. has a 52 week low of $9.63 and a 52 week high of $20.67. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $12.88 and a 200 day moving average of $11.81.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings data on Tuesday, June 13th. The company reported $0.40 EPS for the quarter. MasterBrand had a net margin of 3.37% and a return on equity of 11.88%. The company had revenue of $777.10 million during the quarter.

Analyst Ratings Changes

Several equities analysts recently issued reports on MBC shares. Wall Street Zen raised shares of MasterBrand from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Weiss Ratings reissued a "hold (c)" rating on shares of MasterBrand in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $15.00.

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.

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