American Century Companies Inc. trimmed its position in Foundation Building Materials (NYSE:FBM) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,302,543 shares of the company’s stock after selling 53,017 shares during the period. American Century Companies Inc. owned approximately 3.04% of Foundation Building Materials worth $19,421,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FBM. Bank of Montreal Can acquired a new stake in shares of Foundation Building Materials during the 4th quarter valued at $134,000. Acadian Asset Management LLC acquired a new stake in shares of Foundation Building Materials during the 4th quarter valued at $294,000. Trexquant Investment LP acquired a new stake in shares of Foundation Building Materials during the 1st quarter valued at $304,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Foundation Building Materials during the 4th quarter valued at $334,000. Finally, Swiss National Bank lifted its position in shares of Foundation Building Materials by 31.6% during the 4th quarter. Swiss National Bank now owns 32,900 shares of the company’s stock valued at $487,000 after acquiring an additional 7,900 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.
Shares of NYSE:FBM opened at $14.68 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.65 and a current ratio of 2.48. Foundation Building Materials has a 12-month low of $13.94 and a 12-month high of $14.23. The firm has a market cap of $603.51 million, a price-to-earnings ratio of 48.93 and a beta of 0.34.
Foundation Building Materials (NYSE:FBM) last announced its earnings results on Wednesday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Foundation Building Materials had a net margin of 3.66% and a return on equity of 3.74%. The company had revenue of $536.30 million for the quarter, compared to the consensus estimate of $533.99 million. During the same period in the previous year, the business earned ($0.02) EPS. The company’s revenue was up 11.8% on a year-over-year basis. sell-side analysts forecast that Foundation Building Materials will post 0.56 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the company. UBS upgraded Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded Foundation Building Materials from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Raymond James upgraded Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research report on Thursday, February 8th. Citigroup increased their price objective on Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Deutsche Bank cut their price objective on Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, April 9th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.57.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.
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