Alps Advisors Inc. Lowers Stake in Continental Building Products Inc (CBPX)

Alps Advisors Inc. reduced its position in shares of Continental Building Products Inc (NYSE:CBPX) by 23.3% in the third quarter, Holdings Channel reports. The fund owned 12,549 shares of the construction company’s stock after selling 3,817 shares during the quarter. Alps Advisors Inc.’s holdings in Continental Building Products were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CBPX. Russell Investments Group Ltd. boosted its position in shares of Continental Building Products by 314.3% during the 1st quarter. Russell Investments Group Ltd. now owns 4,499 shares of the construction company’s stock valued at $128,000 after acquiring an additional 3,413 shares during the last quarter. United Services Automobile Association bought a new position in shares of Continental Building Products during the 2nd quarter valued at approximately $200,000. Financial Enhancement Group LLC bought a new position in shares of Continental Building Products during the 2nd quarter valued at approximately $201,000. Meeder Asset Management Inc. boosted its position in shares of Continental Building Products by 83.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,829 shares of the construction company’s stock valued at $215,000 after acquiring an additional 3,113 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Continental Building Products during the 1st quarter valued at approximately $268,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

A number of research analysts have recently commented on the company. ValuEngine downgraded Continental Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded Continental Building Products from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Wednesday, August 8th. Stephens set a $41.00 price target on Continental Building Products and gave the stock a “hold” rating in a research report on Tuesday, August 7th. Raymond James upgraded Continental Building Products from a “market perform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Monday, August 6th. Finally, SunTrust Banks restated a “hold” rating and issued a $31.00 price target on shares of Continental Building Products in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $34.33.

Shares of CBPX opened at $29.74 on Friday. Continental Building Products Inc has a 52-week low of $25.00 and a 52-week high of $39.60. The firm has a market capitalization of $1.10 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.49 and a beta of 1.50. The company has a quick ratio of 3.21, a current ratio of 3.86 and a debt-to-equity ratio of 0.79.

Continental Building Products (NYSE:CBPX) last released its earnings results on Thursday, November 8th. The construction company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Continental Building Products had a return on equity of 19.57% and a net margin of 14.04%. The business had revenue of $131.20 million during the quarter, compared to the consensus estimate of $124.65 million. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Continental Building Products Inc will post 2.02 earnings per share for the current fiscal year.

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Continental Building Products 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.

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

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