Prudential Financial Inc. increased its stake in Foundation Building Materials Inc (NYSE:FBM) by 35.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,632 shares of the company’s stock after acquiring an additional 23,064 shares during the period. Prudential Financial Inc. owned approximately 0.20% of Foundation Building Materials worth $1,558,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in Foundation Building Materials by 42.5% in the second quarter. Acadian Asset Management LLC now owns 399,638 shares of the company’s stock valued at $7,106,000 after buying an additional 119,156 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Foundation Building Materials in the second quarter valued at $26,000. BNP Paribas Arbitrage SA increased its holdings in Foundation Building Materials by 680.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,081 shares of the company’s stock valued at $30,000 after buying an additional 2,686 shares during the last quarter. Stone Ridge Asset Management LLC increased its holdings in Foundation Building Materials by 11.8% in the second quarter. Stone Ridge Asset Management LLC now owns 38,753 shares of the company’s stock valued at $689,000 after buying an additional 4,100 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Foundation Building Materials in the second quarter valued at $1,061,000. Institutional investors and hedge funds own 90.34% of the company’s stock.
Separately, Zacks Investment Research lowered Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.33.
Shares of FBM stock traded up $0.13 during mid-day trading on Friday, hitting $17.60. 46,857 shares of the stock were exchanged, compared to its average volume of 235,232. The stock’s fifty day simple moving average is $17.63 and its two-hundred day simple moving average is $15.02. The stock has a market capitalization of $766.94 million, a price-to-earnings ratio of 50.29 and a beta of 1.46. Foundation Building Materials Inc has a 12-month low of $7.62 and a 12-month high of $19.74. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.38 and a current ratio of 1.98.
Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.12. The company had revenue of $559.91 million for the quarter, compared to analyst estimates of $574.68 million. Foundation Building Materials had a return on equity of 9.30% and a net margin of 0.08%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. On average, research analysts expect that Foundation Building Materials Inc will post 0.85 earnings per share for the current fiscal year.
Foundation Building Materials Profile
Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.
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