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

MasterBrand, Inc. (NYSE:MBC)’s stock 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.

The company reported $0.21 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 analysts’ expectations of $722.85 million. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%.

Wall Street Analyst Weigh In

Separately, Loop Capital cut their price objective on MasterBrand from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its position in MasterBrand by 36.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company’s stock worth $70,000 after acquiring an additional 1,286 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MasterBrand by 2.2% in the fourth 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 buying an additional 31,449 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of MasterBrand in the fourth quarter valued at $602,000. State of Wyoming increased its position in shares of MasterBrand by 547.9% in the fourth quarter. State of Wyoming now owns 21,658 shares of the company’s stock valued at $316,000 after buying an additional 18,315 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of MasterBrand by 28.3% in the fourth quarter. Rafferty Asset Management LLC now owns 36,911 shares of the company’s stock valued at $539,000 after buying an additional 8,143 shares in the last quarter. Hedge funds and other institutional investors own 87.32% of the company’s stock.

MasterBrand Trading Down 5.7 %

The firm has a market cap of $1.95 billion, a PE ratio of 13.43 and a beta of 1.58. The business has a 50-day moving average price of $16.05 and a two-hundred day moving average price of $16.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.02.

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.