MasterBrand (NYSE:MBC) Sees Strong Trading Volume – Still a Buy?

MasterBrand, Inc. (NYSE:MBC) shares saw unusually-high trading volume on Monday . Approximately 789,963 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 912,487 shares.The stock last traded at $16.91 and had previously closed at $17.32.

Analyst Upgrades and Downgrades

Separately, Loop Capital upped their price objective on shares of MasterBrand from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

MasterBrand Stock Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.02. The stock has a market cap of $2.19 billion, a P/E ratio of 15.09 and a beta of 1.58. The stock’s 50 day simple moving average is $16.13 and its two-hundred day simple moving average is $16.73.

MasterBrand (NYSE:MBC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%. The firm had revenue of $718.10 million for the quarter.

Hedge Funds Weigh In On MasterBrand

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MasterBrand by 58.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,425,966 shares of the company’s stock valued at $26,437,000 after purchasing an additional 528,537 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in MasterBrand by 11.8% in the third quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company’s stock valued at $91,329,000 after purchasing an additional 518,443 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of MasterBrand by 18.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock worth $38,799,000 after acquiring an additional 330,874 shares during the period. Royce & Associates LP increased its stake in shares of MasterBrand by 699.8% in the third quarter. Royce & Associates LP now owns 367,655 shares of the company’s stock worth $6,816,000 after purchasing an additional 321,687 shares in the last quarter. Finally, Foundry Partners LLC purchased a new stake in shares of MasterBrand during the third quarter worth $4,952,000. 87.32% of the stock is currently owned by institutional investors.

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.