State Street Corp increased its position in Continental Building Products Inc (NYSE:CBPX) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 762,246 shares of the construction company’s stock after purchasing an additional 43,516 shares during the quarter. State Street Corp owned approximately 1.98% of Continental Building Products worth $17,765,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of CBPX. Vanguard Group Inc. raised its stake in Continental Building Products by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,224,374 shares of the construction company’s stock worth $98,427,000 after acquiring an additional 81,728 shares during the last quarter. Macquarie Group Ltd. grew its position in Continental Building Products by 31.3% during the 2nd quarter. Macquarie Group Ltd. now owns 1,917,771 shares of the construction company’s stock worth $44,684,000 after purchasing an additional 456,769 shares during the period. Dimensional Fund Advisors LP grew its position in Continental Building Products by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,445,842 shares of the construction company’s stock worth $33,688,000 after purchasing an additional 51,644 shares during the period. Prudential Financial Inc. grew its position in shares of Continental Building Products by 27.1% during the 2nd quarter. Prudential Financial Inc. now owns 1,281,552 shares of the construction company’s stock valued at $29,860,000 after acquiring an additional 273,192 shares during the period. Finally, Systematic Financial Management LP grew its position in shares of Continental Building Products by 0.3% during the 2nd quarter. Systematic Financial Management LP now owns 903,121 shares of the construction company’s stock valued at $21,043,000 after acquiring an additional 2,560 shares during the period. Institutional investors own 99.58% of the company’s stock.
Several research firms recently issued reports on CBPX. Zacks Investment Research upgraded Continental Building Products from a “sell” rating to a “hold” rating in a report on Thursday, November 16th. Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 target price on shares of Continental Building Products in a report on Wednesday, November 15th. Barclays boosted their price target on shares of Continental Building Products from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th. SunTrust Banks reiterated a “buy” rating and set a $30.00 target price on shares of Continental Building Products in a research note on Monday, October 2nd. Finally, BidaskClub raised shares of Continental Building Products from a “sell” rating to a “hold” rating in a research report on Saturday, September 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Continental Building Products presently has an average rating of “Buy” and an average target price of $28.25.
Shares of Continental Building Products Inc (NYSE CBPX) traded down $0.40 during mid-day trading on Tuesday, hitting $27.35. 197,513 shares of the stock were exchanged, compared to its average volume of 344,496. The stock has a market cap of $1,040.93, a P/E ratio of 22.26 and a beta of 1.28. Continental Building Products Inc has a fifty-two week low of $21.00 and a fifty-two week high of $28.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.46 and a current ratio of 3.11.
Continental Building Products (NYSE:CBPX) last announced its quarterly earnings data on Thursday, November 9th. The construction company reported $0.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Continental Building Products had a net margin of 10.13% and a return on equity of 15.80%. The company had revenue of $116.50 million during the quarter, compared to analyst estimates of $121.08 million. During the same period last year, the business earned $0.25 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities analysts forecast that Continental Building Products Inc will post 1.25 earnings per share for the current fiscal year.
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About Continental Building Products
Continental Building Products, Inc is a manufacturer of gypsum wallboard and complementary finishing products. The Company operates through wallboard segment. Gypsum wallboard is a primary building material used in residential and commercial construction and in repair and remodel (R&R). It offers customers a range of gypsum wallboard products, including LiftLite, its lightweight product designed to lift and install; its Mold Defense line of products designed for protection against mold and mildew, and its Weather Defense line of moisture and mold-resistant exterior sheathing.
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