MasterBrand (NYSE:MBC) Sees Strong Trading Volume on Earnings Beat

Key Points

• MasterBrand, Inc. reported a quarterly EPS of $0.40, exceeding analysts' expectations of $0.34, leading to an 18% increase in trading volume with approximately 1.2 million shares exchanged.
• Despite the earnings beat, Loop Capital reduced its price target on MasterBrand from $16.00 to $15.00 while maintaining a "buy" rating, indicating mixed sentiment among analysts.
• Institutional investors hold 87.32% of MasterBrand's stock, with notable increases in holdings from Gates Capital Management and Boston Partners.

Shares of MasterBrand, Inc. (NYSE:MBC - Get Free Report) saw unusually-high trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 1,192,210 shares traded hands during mid-day trading, an increase of 18% from the previous session's volume of 1,008,148 shares.The stock last traded at $12.34 and had previously closed at $11.33.

The company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. MasterBrand had a net margin of 3.74% and a return on equity of 12.60%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of MasterBrand

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gates Capital Management Inc. lifted its position in shares of MasterBrand by 1.9% during the 1st quarter. Gates Capital Management Inc. now owns 9,669,562 shares of the company's stock valued at $126,284,000 after buying an additional 179,984 shares in the last quarter. Boston Partners grew its position in shares of MasterBrand by 49.5% in the first quarter. Boston Partners now owns 7,827,706 shares of the company's stock valued at $101,927,000 after purchasing an additional 2,590,583 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MasterBrand by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company's stock worth $72,709,000 after purchasing an additional 226,818 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of MasterBrand by 45.3% during the 2nd quarter. Pzena Investment Management LLC now owns 4,154,751 shares of the company's stock worth $45,411,000 after purchasing an additional 1,295,267 shares during the last quarter. Finally, Coliseum Capital Management LLC purchased a new position in MasterBrand in the 1st quarter valued at about $41,517,000. Institutional investors and hedge funds own 87.32% of the company's stock.

MasterBrand Price Performance

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.90. The stock has a market capitalization of $1.56 billion, a PE ratio of 15.74 and a beta of 1.42. The stock's 50 day moving average is $10.97 and its two-hundred day moving average is $12.61.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.