MasterBrand (NYSE:MBC) Shares Gap Down on Disappointing Earnings

MasterBrand, Inc. (NYSE:MBC - Get Free Report) gapped down before the market opened 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 traded.

The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.17). The business had revenue of $667.70 million for the quarter, compared to analyst estimates of $722.85 million. MasterBrand had a return on equity of 13.89% and a net margin of 4.66%.

Analysts Set New Price Targets

Separately, Loop Capital cut their target price on MasterBrand from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday.

Institutional Investors Weigh In On MasterBrand

Institutional investors have recently modified their holdings of the company. Gates Capital Management Inc. grew its position in MasterBrand by 7.5% in the 4th quarter. Gates Capital Management Inc. now owns 9,489,578 shares of the company's stock valued at $138,643,000 after acquiring an additional 658,807 shares in the last quarter. Boston Partners grew its holdings in shares of MasterBrand by 82.2% in the fourth quarter. Boston Partners now owns 5,237,123 shares of the company's stock valued at $76,558,000 after purchasing an additional 2,363,308 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in MasterBrand by 3.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,083,041 shares of the company's stock worth $74,264,000 after buying an additional 156,993 shares during the period. Dimensional Fund Advisors LP boosted its position in MasterBrand by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,976,769 shares of the company's stock valued at $72,709,000 after buying an additional 226,818 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of MasterBrand by 4.2% in the third quarter. Geode Capital Management LLC now owns 3,400,366 shares of the company's stock worth $63,053,000 after acquiring an additional 135,693 shares in the last quarter. 87.32% of the stock is owned by institutional investors and hedge funds.

MasterBrand Stock Performance

The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 14.73 and a beta of 1.58. The firm has a 50 day moving average price of $16.01 and a 200-day moving average price of $16.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.65 and a quick ratio of 1.02.

About MasterBrand

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.