MasterBrand (NYSE:MBC) Sees Large Volume Increase – Still a Buy?

Shares of MasterBrand, Inc. (NYSE:MBC) saw an uptick in trading volume on Monday . 789,963 shares traded hands during mid-day 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.

Wall Street Analyst Weigh In

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

MasterBrand Trading Down 0.2 %

The company has a market capitalization of $2.17 billion, a P/E ratio of 14.95 and a beta of 1.58. The company has a 50-day simple moving average of $16.11 and a 200 day simple moving average of $16.73. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.02 and a current ratio of 1.82.

MasterBrand (NYSE:MBC) last released its earnings results on Tuesday, November 5th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%. The firm had revenue of $718.10 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in MasterBrand during the second quarter valued at about $172,000. The Manufacturers Life Insurance Company increased its position in shares of MasterBrand by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 69,879 shares of the company’s stock valued at $1,026,000 after purchasing an additional 1,216 shares during the period. Handelsbanken Fonder AB raised its stake in shares of MasterBrand by 14.0% in the third quarter. Handelsbanken Fonder AB now owns 32,500 shares of the company’s stock valued at $603,000 after purchasing an additional 4,000 shares in the last quarter. GAMMA Investing LLC boosted its stake in MasterBrand by 46.3% during the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock worth $52,000 after buying an additional 890 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in MasterBrand by 8.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 186,127 shares of the company’s stock valued at $3,451,000 after buying an additional 14,510 shares during the period. Institutional investors own 87.32% of the company’s stock.

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.