MasterBrand (NYSE:MBC) Shares Gap Down Following Weak Earnings

MasterBrand, Inc. (NYSE:MBC) gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $16.23, but opened at $14.38. MasterBrand shares last traded at $15.34, with a volume of 238,737 shares trading hands.

The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.17). The company had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%.

Institutional Trading of MasterBrand

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning boosted its holdings in shares of MasterBrand by 18.1% in the 3rd quarter. Creative Planning now owns 28,948 shares of the company’s stock valued at $537,000 after purchasing an additional 4,432 shares in the last quarter. Raymond James & Associates lifted its holdings in MasterBrand by 160.2% in the third quarter. Raymond James & Associates now owns 182,666 shares of the company’s stock valued at $3,387,000 after buying an additional 112,456 shares during the period. Lansing Street Advisors acquired a new stake in MasterBrand during the 3rd quarter worth about $209,000. Summit Global Investments bought a new position in shares of MasterBrand in the 3rd quarter worth about $378,000. Finally, Entropy Technologies LP lifted its stake in shares of MasterBrand by 69.6% in the 3rd quarter. Entropy Technologies LP now owns 18,757 shares of the company’s stock valued at $348,000 after purchasing an additional 7,700 shares during the period. Institutional investors own 87.32% of the company’s stock.

MasterBrand Trading Down 5.2 %

The company has a market cap of $1.96 billion, a P/E ratio of 13.50 and a beta of 1.58. The firm has a 50-day moving average of $16.07 and a 200 day moving average of $16.69. 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 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.