MasterBrand (NYSE:MBC) Hits New 1-Year High on Earnings Beat

MasterBrand, Inc. (NYSE:MBC)’s stock price hit a new 52-week high on Wednesday following a stronger than expected earnings report. 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, topping analysts’ consensus estimates of $0.34 by $0.06. MasterBrand had a return on equity of 16.58% and a net margin of 6.69%. The company had revenue of $718.10 million for the quarter.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at MasterBrand

In related news, Director Ann F. Hackett sold 17,589 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total transaction of $280,544.55. Following the transaction, the director now directly owns 45,520 shares of the company’s stock, valued at approximately $726,044. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Mark A. Young sold 4,715 shares of MasterBrand stock in a transaction on Friday, September 13th. The stock was sold at an average price of $16.33, for a total transaction of $76,995.95. Following the completion of the sale, the chief accounting officer now owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Hackett sold 17,589 shares of the firm’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 sale, the director now directly 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. Insiders have sold a total of 22,806 shares of company stock valued at $365,567 in the last three months. 1.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MasterBrand

Large investors have recently made changes to their positions in the company. SageView Advisory Group LLC bought a new position in MasterBrand during the first quarter valued at approximately $25,000. Covestor Ltd raised its holdings in shares of MasterBrand by 71.4% during the 1st quarter. Covestor Ltd now owns 1,596 shares of the company’s stock valued at $30,000 after purchasing an additional 665 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of MasterBrand in the 2nd quarter valued at $36,000. GAMMA Investing LLC boosted its holdings in MasterBrand by 46.3% in the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock worth $52,000 after purchasing an additional 890 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in MasterBrand in the second quarter worth $75,000. Institutional investors own 87.32% of the company’s stock.

MasterBrand Price Performance

The company’s 50-day simple moving average is $17.58 and its 200 day simple moving average is $16.59. The company has a quick ratio of 1.43, a current ratio of 2.24 and a debt-to-equity ratio of 0.55. The stock has a market capitalization 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.