Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Masonite International Corp (DOOR): Mount Kellet Capital Management Sells a Significant Portion of Shares

Mark McGoldrick and Jason Maynard‘s Mount Kellett Capital Management has revealed selling a significant chunk of its stake in Masonite International Corp (NYSE:DOOR). According to a filing with the Securities and Exchange Commission, Mount Kellet sold a total of 1.36 million shares of Masonite International, remaining with some 2.96 million shares. The securities have been sold in one open-market transaction at a price of $55.5 per share. Following the sale of shares, Mount Kellet’s stake amasses 9.9% of the company’s outstanding stock.


Another shareholder of Masonite International Corp (NYSE:DOOR) is Oaktree Capital Management, led by Howard Marks, which owns around 3.62 million shares of the company as of the end of the second quarter. While Oaktree decreased its stake by 12% on the quarter, Joel Ramin‘s 12 West Capital Management raised its exposure to Masonite by 39% during the second quarter and revealed holding some 2.12 million shares in its latest 13F filing.

Masonite International Corp (NYSE:DOOR) is a company that designs and manufactures of interior and exterior doors. In addition, the company is engaged in residential remodeling, renovation and repair works. In August the company announced the restructurization of its Israeli subsidiary. The board of the Israel-based subsidiary, Masonite Israel Ltd. filed for a Stay of Proceedings from the Israeli court, which is expected to appoint a Trustee to oversee the business and restructure it, Masonite said in a press release.

The stock of the $1.70 billion market cap company declined by around 3.30% since the beginning of the year. Masonite International Corp (NYSE:DOOR) posted an 8.2% increase on the year in its net sales for the second quarter, which amounted to $490.2 million. The company also turned to a net income of $5.6 million for the second quarter, from a net loss of $1.2 million reported for the same period of last year. Overall, the average recommendation for Masonite stock is ‘Overweight’ with the average target price of $64.30, which is below the current price of the stock.

Disclosure: none

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!