MasterBrand (NYSE:MBC) Stock Price Down 4.8% – Here’s Why

MasterBrand, Inc. (NYSE:MBC) traded down 4.8% during trading on Monday . The stock traded as low as $9.81 and last traded at $9.71. 88,882 shares were traded during trading, a decline of 91% from the average session volume of 979,225 shares. The stock had previously closed at $10.20.

Wall Street Analyst Weigh In

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

MasterBrand Stock Up 3.6%

The stock has a market capitalization of $1.29 billion, a P/E ratio of 10.49 and a beta of 1.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02. The stock has a fifty day moving average price of $11.38 and a 200 day moving average price of $14.12.

MasterBrand (NYSE:MBC) last issued its 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 the consensus estimate of $663.95 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

MasterBrand announced that its board has authorized a share buyback program on Monday, March 17th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of MasterBrand

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of MasterBrand by 23.1% in the fourth quarter. Bank of America Corp DE now owns 629,281 shares of the company’s stock worth $9,194,000 after purchasing an additional 117,940 shares during the period. Empowered Funds LLC raised its holdings in shares of MasterBrand by 5.1% in the 4th quarter. Empowered Funds LLC now owns 650,450 shares of the company’s stock valued at $9,503,000 after acquiring an additional 31,714 shares in the last quarter. Millennium Management LLC boosted its position in shares of MasterBrand by 220.9% during the 4th quarter. Millennium Management LLC now owns 462,409 shares of the company’s stock valued at $6,756,000 after acquiring an additional 318,298 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 purchasing an additional 398,303 shares in the last quarter. Finally, Susquehanna International Group LLP increased its position in shares of MasterBrand by 307.1% in the fourth quarter. Susquehanna International Group LLP now owns 130,490 shares of the company’s stock worth $1,906,000 after purchasing an additional 98,439 shares during the last quarter. 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.