Hennessy Advisors Inc. Has $6.45 Million Stake in MasterBrand, Inc. (NYSE:MBC)

Hennessy Advisors Inc. decreased its stake in shares of MasterBrand, Inc. (NYSE:MBC) by 10.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 493,500 shares of the company’s stock after selling 56,400 shares during the period. Hennessy Advisors Inc. owned 0.39% of MasterBrand worth $6,445,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bank of America Corp DE boosted its stake in MasterBrand by 23.1% during the 4th quarter. Bank of America Corp DE now owns 629,281 shares of the company’s stock valued at $9,194,000 after purchasing an additional 117,940 shares during the period. Millennium Management LLC boosted its stake in MasterBrand by 220.9% during the 4th quarter. Millennium Management LLC now owns 462,409 shares of the company’s stock valued at $6,756,000 after purchasing an additional 318,298 shares during the period. JPMorgan Chase & Co. boosted its stake in MasterBrand by 135.1% during the 4th quarter. JPMorgan Chase & Co. now owns 693,220 shares of the company’s stock valued at $10,128,000 after purchasing an additional 398,303 shares during the period. Susquehanna International Group LLP boosted its stake in MasterBrand by 307.1% during the 4th quarter. Susquehanna International Group LLP now owns 130,490 shares of the company’s stock valued at $1,906,000 after purchasing an additional 98,439 shares during the period. Finally, EMG Holdings L.P. bought a new stake in MasterBrand during the 4th quarter valued at approximately $2,865,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

MasterBrand Price Performance

Shares of MBC stock opened at $10.05 on Friday. The stock has a 50 day moving average of $11.04 and a two-hundred day moving average of $13.76. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. MasterBrand, Inc. has a 12 month low of $9.63 and a 12 month high of $20.67. The company has a market capitalization of $1.27 billion, a P/E ratio of 10.36 and a beta of 1.42.

MasterBrand (NYSE:MBC) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The firm had revenue of $660.30 million during the quarter, compared to the consensus estimate of $663.95 million.

MasterBrand declared that its Board of Directors has initiated a share buyback program on Monday, March 17th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MBC has been the subject of a number of research reports. Loop Capital reduced their price objective on MasterBrand from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Zelman & Associates reiterated an “underperform” rating on shares of MasterBrand in a research report on Monday, April 14th.

MasterBrand 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.