MasterBrand (NYSE:MBC) Sees Strong Trading Volume – What’s Next?

Shares of MasterBrand, Inc. (NYSE:MBC) saw unusually-high trading volume on Monday . Approximately 789,963 shares traded hands during 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 Analysts Forecast Growth

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

MasterBrand Stock Performance

The firm’s 50 day moving average price is $16.13 and its 200-day moving average price is $16.73. The firm has a market capitalization of $2.19 billion, a PE ratio of 15.09 and a beta of 1.58. 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 announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Trading of MasterBrand

A number of large investors have recently made changes to their positions in MBC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MasterBrand by 58.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,425,966 shares of the company’s stock valued at $26,437,000 after buying an additional 528,537 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in MasterBrand by 11.8% in the third quarter. Thrivent Financial for Lutherans now owns 4,926,048 shares of the company’s stock valued at $91,329,000 after buying an additional 518,443 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of MasterBrand by 18.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,092,694 shares of the company’s stock worth $38,799,000 after buying an additional 330,874 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of MasterBrand by 699.8% during the third quarter. Royce & Associates LP now owns 367,655 shares of the company’s stock valued at $6,816,000 after acquiring an additional 321,687 shares during the period. Finally, Foundry Partners LLC bought a new stake in MasterBrand during the 3rd quarter valued at $4,952,000. 87.32% of the stock is owned by institutional investors and hedge funds.

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.