Canandaigua National Bank & Trust Co. Invests $254,000 in Continental Building (CBPX) Stock

Canandaigua National Bank & Trust Co. acquired a new position in shares of Continental Building (NYSE:CBPX) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,882 shares of the construction company’s stock, valued at approximately $254,000.

A number of other institutional investors have also recently made changes to their positions in CBPX. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Continental Building by 154.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,983 shares of the construction company’s stock valued at $112,000 after purchasing an additional 2,417 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Continental Building by 77.2% in the 1st quarter. SG Americas Securities LLC now owns 7,361 shares of the construction company’s stock valued at $210,000 after purchasing an additional 3,206 shares in the last quarter. Minerva Advisors LLC purchased a new position in shares of Continental Building in the 4th quarter valued at about $239,000. Teacher Retirement System of Texas purchased a new position in shares of Continental Building in the 4th quarter valued at about $379,000. Finally, Trexquant Investment LP purchased a new position in shares of Continental Building in the 1st quarter valued at about $380,000. Institutional investors own 96.27% of the company’s stock.

A number of equities research analysts recently commented on CBPX shares. Citigroup lowered their price objective on shares of Continental Building from $13.00 to $11.50 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Zacks Investment Research raised shares of Continental Building from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, February 13th. Raymond James started coverage on shares of Continental Building in a research note on Tuesday, March 13th. They issued a “market perform” rating on the stock. Deutsche Bank increased their price objective on shares of Continental Building from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Finally, ValuEngine raised shares of Continental Building from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.43.

Shares of Continental Building opened at $28.90 on Friday, according to MarketBeat Ratings. The stock has a market capitalization of $1.07 billion, a P/E ratio of 21.73 and a beta of 1.13. Continental Building has a 52 week low of $21.00 and a 52 week high of $31.00. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.78 and a current ratio of 3.42.

Continental Building (NYSE:CBPX) last issued its quarterly earnings data on Thursday, May 3rd. The construction company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). The business had revenue of $116.80 million during the quarter, compared to analyst estimates of $118.77 million. Continental Building had a net margin of 12.62% and a return on equity of 16.88%. Continental Building’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. equities research analysts expect that Continental Building will post 1.78 earnings per share for the current year.

Continental Building announced that its board has initiated a stock buyback program on Thursday, February 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Continental Building Company Profile

Continental Building Products, Inc manufactures and sells gypsum wallboard and complementary finishing products in the eastern United States and eastern Canada. The company sells its products to gypsum wallboard distributors, buying groups, wholesalers, and mass merchants in the new residential, repair and remodel, and commercial construction markets under the LiftLite, Mold Defense, and Weather Defense brand names.

Institutional Ownership by Quarter for Continental Building (NYSE:CBPX)

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