MasterBrand (NYSE:MBC) Posts Earnings Results, Misses Expectations By $0.16 EPS

MasterBrand (NYSE:MBC) posted its earnings results on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.16), FiscalAI reports. The business had revenue of $644.60 million for the quarter, compared to analysts’ expectations of $607.60 million. MasterBrand had a net margin of 3.00% and a return on equity of 10.88%.

MasterBrand Stock Performance

MBC traded up $0.36 during midday trading on Tuesday, hitting $13.81. 2,758,940 shares of the company traded hands, compared to its average volume of 1,534,311. The company’s 50-day moving average is $11.91 and its 200 day moving average is $12.15. The company has a quick ratio of 1.13, a current ratio of 1.87 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $1.75 billion, a PE ratio of 21.58 and a beta of 1.45. MasterBrand has a 52 week low of $9.33 and a 52 week high of $17.09.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MasterBrand in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of MasterBrand from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.00.

Institutional Investors Weigh In On MasterBrand

A number of hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of MasterBrand by 696.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,012 shares of the company’s stock worth $33,000 after buying an additional 2,634 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in MasterBrand by 58.8% during the third quarter. CIBC Private Wealth Group LLC now owns 5,812 shares of the company’s stock valued at $77,000 after acquiring an additional 2,153 shares during the last quarter. Glenmede Investment Management LP bought a new position in MasterBrand in the third quarter valued at about $135,000. Cetera Investment Advisers lifted its stake in shares of MasterBrand by 15.2% in the 2nd quarter. Cetera Investment Advisers now owns 12,953 shares of the company’s stock worth $142,000 after purchasing an additional 1,705 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in shares of MasterBrand during the 3rd quarter worth $166,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

MasterBrand Company Profile

MasterBrand Inc is one of the largest manufacturers of cabinetry and home storage solutions in North America. The company specializes in designing, producing and distributing kitchen and bath cabinetry for both new construction and the remodeling markets. Its offerings span a broad spectrum of styles and price points, serving homebuilders, home improvement retailers and independent dealers.

MasterBrand’s product portfolio includes framed and frameless cabinet lines, bath vanities, closet systems and other organizational accessories.