MasterBrand, Inc. $MBC Position Lifted by Pzena Investment Management LLC

Pzena Investment Management LLC increased its position in shares of MasterBrand, Inc. (NYSE:MBC) by 11.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,027,986 shares of the company’s stock after acquiring an additional 1,698,503 shares during the period. Pzena Investment Management LLC owned about 0.08% of MasterBrand worth $119,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MBC. Axiom Investment Management LLC acquired a new position in shares of MasterBrand during the first quarter worth $29,000. Integrated Wealth Concepts LLC acquired a new position in shares of MasterBrand in the second quarter worth approximately $38,000. Nykredit A S acquired a new stake in MasterBrand during the 2nd quarter valued at approximately $40,000. Trust Co. of Vermont bought a new position in MasterBrand during the 2nd quarter worth approximately $64,000. Finally, VestGen Advisors LLC bought a new stake in shares of MasterBrand in the 3rd quarter valued at $71,000. 87.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of MasterBrand in a report on Friday, October 9th. DA Davidson reiterated a “neutral” rating and set a $10.00 target price on shares of MasterBrand in a research report on Tuesday, October 27th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MasterBrand has a consensus rating of “Reduce” and an average price target of $10.00.

Insiders Place Their Bets

In related news, EVP Kurt Wanninger sold 50,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $9.22, for a total transaction of $461,000.00. Following the completion of the transaction, the executive vice president owned 201,199 shares in the company, valued at approximately $1,855,054.78. This represents a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

MasterBrand Stock Up 9.0%

Shares of NYSE:MBC opened at $7.51 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.76. MasterBrand, Inc. has a 52-week low of $6.17 and a 52-week high of $13.95. The business’s 50 day simple moving average is $7.23 and its two-hundred day simple moving average is $8.82. The firm has a market cap of $1.53 billion, a P/E ratio of -10.88 and a beta of 1.45.

MasterBrand (NYSE:MBC) last issued its earnings results on Tuesday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). MasterBrand had a positive return on equity of 3.65% and a negative net margin of 3.49%. The firm had revenue of $815.20 million during the quarter, compared to the consensus estimate of $743.05 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. MasterBrand’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts forecast that MasterBrand, Inc. will post -0.03 EPS for the current fiscal year.

MasterBrand Profile

MasterBrand, Inc (NYSE:MBC) is a manufacturer of residential cabinetry and related products. The company designs and produces cabinets for kitchens, bathrooms, home offices, living areas and other spaces, serving both new construction and remodeling markets.

MasterBrand offers a range of cabinet styles, materials, finishes and price points through a portfolio of brands that includes Aristokraft, Cabinetry by Karman, Decora, Diamond, Homecrest, Kemper, Mantra, Omega and Schrock. Its products are sold through home improvement and specialty retailers, independent dealers, builders and other trade customers.

The company is based in Jasper, Indiana, and serves customers primarily in the United States and Canada.