MasterBrand (NYSE:MBC) Trading 8.6% Higher - Here's Why

MasterBrand, Inc. (NYSE:MBC - Get Free Report)'s stock price traded up 8.6% during mid-day trading on Tuesday . The company traded as high as $11.76 and last traded at $11.87. 156,890 shares were traded during mid-day trading, a decline of 84% from the average session volume of 978,608 shares. The stock had previously closed at $10.93.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Zelman & Associates reissued an "underperform" rating on shares of MasterBrand in a research note on Monday, April 14th. Loop Capital lowered 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 market cap of $1.49 billion, a PE ratio of 15.06 and a beta of 1.43. 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 firm's 50 day moving average is $10.78 and its 200-day moving average is $13.24.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.05). The company had revenue of $660.30 million during the quarter, compared to analyst estimates of $663.95 million. MasterBrand had a net margin of 3.74% and a return on equity of 12.60%.

MasterBrand declared that its board has authorized a share repurchase program on Monday, March 17th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Institutional Trading of MasterBrand

Institutional investors and hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new stake in shares of MasterBrand in the 4th quarter valued at approximately $150,000. Smartleaf Asset Management LLC increased its holdings in MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after purchasing an additional 1,549 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in MasterBrand by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,403,980 shares of the company's stock valued at $35,122,000 after purchasing an additional 311,286 shares during the period. Victory Capital Management Inc. lifted its stake in MasterBrand by 4.8% during the fourth quarter. Victory Capital Management Inc. now owns 201,306 shares of the company's stock worth $2,941,000 after purchasing an additional 9,130 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in MasterBrand during the fourth quarter worth $3,364,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

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.