Wedge Capital Management L L P NC Increases Stake in MasterBrand, Inc. $MBC

Key Points

• Wedge Capital Management L L P NC increased its stake in MasterBrand, Inc. by 56.7%, owning 151,743 shares valued at $1,659,000 after acquiring an additional 54,887 shares in Q2.
• MasterBrand’s stock rating was upgraded from "hold" to "buy" by Wall Street Zen, though it currently maintains an average rating of "Hold" with a price target of $15.00.
• In Q2, MasterBrand reported $0.40 EPS, exceeding estimates of $0.34, along with revenues of $730.90 million, surpassing projections of $683.30 million.

Wedge Capital Management L L P NC grew its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 56.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 151,743 shares of the company's stock after buying an additional 54,887 shares during the quarter. Wedge Capital Management L L P NC owned 0.12% of MasterBrand worth $1,659,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MBC. BNP Paribas Financial Markets purchased a new position in shares of MasterBrand in the 4th quarter valued at about $246,000. Cetera Investment Advisers purchased a new position in shares of MasterBrand in the 4th quarter valued at about $164,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of MasterBrand by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,070 shares of the company's stock valued at $1,053,000 after buying an additional 2,709 shares during the period. Millennium Management LLC boosted its stake in shares of MasterBrand by 220.9% in the 4th 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, Quantinno Capital Management LP purchased a new position in shares of MasterBrand in the 4th quarter valued at about $166,000. Hedge funds and other institutional investors own 87.32% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded MasterBrand from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $15.00.

MasterBrand Trading Down 1.5%

NYSE:MBC opened at $12.91 on Tuesday. The firm has a market cap of $1.64 billion, a P/E ratio of 17.93 and a beta of 1.43. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 0.73. The stock's 50 day simple moving average is $12.40 and its 200-day simple moving average is $11.85. MasterBrand, Inc. has a 12-month low of $9.63 and a 12-month high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.06. The business 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.

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