MasterBrand (NYSE:MBC) Stock Price Down 4.8% - What's Next?

MasterBrand, Inc. (NYSE:MBC - Get Free Report)'s stock price dropped 4.8% during trading on Monday . The company traded as low as $9.81 and last traded at $9.71. Approximately 88,882 shares were traded during trading, a decline of 91% from the average daily volume of 979,225 shares. The stock had previously closed at $10.20.

Analyst Ratings Changes

MBC has been the subject of a number of recent research reports. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th. Loop Capital cut their target price on shares of MasterBrand from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th.

MasterBrand Stock Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 10.61 and a beta of 1.74. The firm's 50 day simple moving average is $11.32 and its 200-day simple moving average is $14.10.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $660.30 million during the quarter, compared to analyst estimates of $663.95 million.

MasterBrand declared that its board has approved a stock buyback program on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On MasterBrand

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its position in MasterBrand by 23.1% during the fourth quarter. Bank of America Corp DE now owns 629,281 shares of the company's stock worth $9,194,000 after buying an additional 117,940 shares during the last quarter. Millennium Management LLC increased its position in MasterBrand by 220.9% during the fourth quarter. Millennium Management LLC now owns 462,409 shares of the company's stock worth $6,756,000 after buying an additional 318,298 shares during the last quarter. Empowered Funds LLC increased its position in MasterBrand by 5.1% during the fourth quarter. Empowered Funds LLC now owns 650,450 shares of the company's stock worth $9,503,000 after buying an additional 31,714 shares during the last quarter. JPMorgan Chase & Co. increased its position in MasterBrand by 135.1% during the fourth quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company's stock worth $10,128,000 after buying an additional 398,303 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in MasterBrand by 307.1% during the fourth quarter. Susquehanna International Group LLP now owns 130,490 shares of the company's stock valued at $1,906,000 after acquiring an additional 98,439 shares during the period. 87.32% of the stock is owned by institutional investors and hedge funds.

About MasterBrand

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.