MasterBrand, Inc. (NYSE:MBC) Sees Large Decline in Short Interest

MasterBrand, Inc. (NYSE:MBC) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 3,220,000 shares, a decline of 28.8% from the December 15th total of 4,520,000 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average trading volume of 917,800 shares, the short-interest ratio is presently 3.5 days.

Hedge Funds Weigh In On MasterBrand

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of MasterBrand by 58.9% in 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 worth $26,437,000 after acquiring an additional 528,537 shares during the period. Thrivent Financial for Lutherans lifted its position in MasterBrand by 11.8% in the third quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company’s stock worth $91,329,000 after purchasing an additional 518,443 shares during the period. Dimensional Fund Advisors LP boosted its stake in MasterBrand by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,546,152 shares of the company’s stock worth $66,738,000 after buying an additional 497,327 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in MasterBrand by 18.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock valued at $38,799,000 after buying an additional 330,874 shares during the period. Finally, Royce & Associates LP raised its stake in shares of MasterBrand by 699.8% in the 3rd quarter. Royce & Associates LP now owns 367,655 shares of the company’s stock valued at $6,816,000 after buying an additional 321,687 shares in the last quarter. 87.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

MasterBrand Stock Performance

MasterBrand stock traded up $0.66 during trading hours on Wednesday, reaching $16.62. 1,008,420 shares of the company were exchanged, compared to its average volume of 1,048,369. The stock has a 50-day moving average of $16.05 and a 200 day moving average of $16.53. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. MasterBrand has a 12 month low of $13.37 and a 12 month high of $20.67. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 14.58 and a beta of 1.55.

MasterBrand (NYSE:MBC) last released its quarterly earnings results on Tuesday, November 5th. 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 5.46% and a return on equity of 15.51%. The company had revenue of $718.10 million during the quarter.

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.