14,016 Shares in Foundation Building Materials, Inc. (FBM) Acquired by Stevens Capital Management LP
Stevens Capital Management LP purchased a new position in Foundation Building Materials, Inc. (NYSE:FBM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,016 shares of the company’s stock, valued at approximately $180,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBM. JPMorgan Chase & Co. purchased a new stake in Foundation Building Materials in the first quarter valued at approximately $133,000. Rhumbline Advisers acquired a new stake in Foundation Building Materials during the 2nd quarter worth about $175,000. Alliancebernstein L.P. acquired a new stake in Foundation Building Materials during the 2nd quarter worth about $208,000. Bank of America Corp DE acquired a new stake in Foundation Building Materials during the 1st quarter worth about $258,000. Finally, Wells Fargo & Company MN acquired a new stake in Foundation Building Materials during the 1st quarter worth about $261,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.
Foundation Building Materials, Inc. (NYSE:FBM) opened at 14.45 on Tuesday. The stock’s market cap is $619.40 million. Foundation Building Materials, Inc. has a 52 week low of $12.32 and a 52 week high of $17.61. The firm’s 50-day moving average is $13.47 and its 200 day moving average is $13.47.
Foundation Building Materials (NYSE:FBM) last released its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The company had revenue of $529.20 million for the quarter, compared to analysts’ expectations of $536.72 million. The firm’s quarterly revenue was up 95.9% compared to the same quarter last year. On average, equities research analysts expect that Foundation Building Materials, Inc. will post $0.31 EPS for the current year.
Several equities research analysts have commented on FBM shares. Deutsche Bank AG lowered their price objective on Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $15.00 price target on shares of Foundation Building Materials in a research note on Wednesday, September 6th. Zacks Investment Research upgraded Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, Barclays PLC lowered their target price on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $18.43.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc is a specialty distributor of wallboard and suspended ceiling systems in the United States and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.
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