MasterBrand (NYSE:MBC) Reaches New 1-Year High Following Earnings Beat

MasterBrand, Inc. (NYSE:MBC) shares reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $20.31 and last traded at $18.69, with a volume of 701 shares. The stock had previously closed at $18.37.

The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. MasterBrand had a net margin of 6.69% and a return on equity of 16.58%. The company had revenue of $718.10 million for the quarter.

Analysts Set New Price Targets

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

Insider Transactions at MasterBrand

In related news, Director Ann F. Hackett sold 17,589 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total value of $280,544.55. Following the completion of the sale, the director now directly owns 45,520 shares of the company’s stock, valued at $726,044. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Mark A. Young sold 4,715 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $16.33, for a total value of $76,995.95. Following the completion of the sale, the chief accounting officer now directly owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total transaction of $280,544.55. Following the completion of the transaction, the director now owns 45,520 shares of the company’s stock, valued at $726,044. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,806 shares of company stock valued at $365,567. Insiders own 1.38% of the company’s stock.

Institutional Investors Weigh In On MasterBrand

A number of institutional investors have recently added to or reduced their stakes in MBC. SageView Advisory Group LLC bought a new stake in shares of MasterBrand in the 1st quarter worth $25,000. Covestor Ltd grew its holdings in MasterBrand by 71.4% during the first quarter. Covestor Ltd now owns 1,596 shares of the company’s stock worth $30,000 after acquiring an additional 665 shares during the period. Quest Partners LLC bought a new stake in MasterBrand in the second quarter worth about $36,000. GAMMA Investing LLC lifted its holdings in MasterBrand by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after acquiring an additional 890 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of MasterBrand during the 2nd quarter valued at about $75,000. 87.32% of the stock is currently owned by institutional investors and hedge funds.

MasterBrand Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.43 and a current ratio of 2.24. The company’s 50 day moving average price is $17.58 and its 200-day moving average price is $16.59. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 15.18 and a beta of 1.53.

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.