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

MasterBrand, Inc. (NYSE:MBC)’s share price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. 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 changing hands.

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

Institutional Investors Weigh In On MasterBrand

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its holdings in MasterBrand by 36.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company’s stock valued at $70,000 after purchasing an additional 1,286 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of MasterBrand by 2.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,415 shares of the company’s stock valued at $21,293,000 after purchasing an additional 31,449 shares during the period. Squarepoint Ops LLC bought a new position in MasterBrand during the fourth quarter worth about $602,000. State of Wyoming grew its holdings in MasterBrand by 547.9% during the fourth quarter. State of Wyoming now owns 21,658 shares of the company’s stock valued at $316,000 after purchasing an additional 18,315 shares during the period. Finally, Rafferty Asset Management LLC boosted its position in shares of MasterBrand by 28.3% during the fourth quarter. Rafferty Asset Management LLC now owns 36,911 shares of the company’s stock worth $539,000 after purchasing an additional 8,143 shares in the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

MasterBrand Trading Down 5.2 %

The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average of $16.07 and a 200-day moving average of $16.69. The firm has a market capitalization of $1.96 billion, a P/E ratio of 13.50 and a beta of 1.58.

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.