MasterBrand (NYSE:MBC) Sees Large Volume Increase – Should You Buy?

MasterBrand, Inc. (NYSE:MBC) shares saw strong trading volume on Monday . 789,963 shares were traded during trading, a decline of 13% from the previous session’s volume of 912,487 shares.The stock last traded at $16.91 and had previously closed at $17.32.

Analyst Upgrades and Downgrades

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

MasterBrand Trading Down 0.2 %

The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.95 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.83. The firm’s 50 day moving average is $16.11 and its 200 day moving average is $16.73.

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. The business had revenue of $718.10 million for the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.

Hedge Funds Weigh In On MasterBrand

A number of hedge funds have recently modified their holdings of MBC. CIBC Asset Management Inc increased its position in MasterBrand by 6.1% in the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock worth $188,000 after purchasing an additional 736 shares during the last quarter. Quest Partners LLC increased its holdings in MasterBrand by 33.3% in the third quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock worth $61,000 after buying an additional 821 shares during the last quarter. GAMMA Investing LLC raised its position in MasterBrand by 46.3% during the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after acquiring an additional 890 shares in the last quarter. North Growth Management Ltd. lifted its stake in MasterBrand by 0.6% in the third quarter. North Growth Management Ltd. now owns 180,000 shares of the company’s stock valued at $3,336,000 after acquiring an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in MasterBrand by 1.2% in the third quarter. PNC Financial Services Group Inc. now owns 94,554 shares of the company’s stock worth $1,753,000 after acquiring an additional 1,107 shares in the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

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.