Bank of America Corp DE lessened its stake in NCI Building Systems Inc (NYSE:NCS) by 29.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,242 shares of the construction company’s stock after selling 37,485 shares during the period. Bank of America Corp DE owned about 0.14% of NCI Building Systems worth $1,895,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of NCI Building Systems in the second quarter worth $136,000. IndexIQ Advisors LLC increased its stake in shares of NCI Building Systems by 7.8% in the second quarter. IndexIQ Advisors LLC now owns 123,582 shares of the construction company’s stock worth $2,595,000 after buying an additional 8,942 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of NCI Building Systems in the first quarter worth $178,000. Dimensional Fund Advisors LP increased its stake in shares of NCI Building Systems by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,961,345 shares of the construction company’s stock worth $41,189,000 after buying an additional 13,041 shares during the last quarter. Finally, Globeflex Capital L P increased its stake in shares of NCI Building Systems by 16.3% in the second quarter. Globeflex Capital L P now owns 100,506 shares of the construction company’s stock worth $2,111,000 after buying an additional 14,076 shares during the last quarter. Institutional investors and hedge funds own 94.77% of the company’s stock.
NCS stock opened at $12.53 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.58 and a quick ratio of 0.85. NCI Building Systems Inc has a 1-year low of $11.95 and a 1-year high of $23.35. The firm has a market cap of $909.64 million, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 0.74 and a beta of 1.51.
NCI Building Systems (NYSE:NCS) last released its earnings results on Tuesday, August 28th. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. NCI Building Systems had a net margin of 2.77% and a return on equity of 29.00%. The firm had revenue of $548.50 million during the quarter, compared to analyst estimates of $534.27 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. Equities research analysts predict that NCI Building Systems Inc will post 1.45 earnings per share for the current fiscal year.
NCS has been the subject of several recent research reports. ValuEngine upgraded shares of NCI Building Systems from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Barclays lowered shares of NCI Building Systems from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $24.00 to $19.00 in a research note on Friday, July 20th. TheStreet lowered shares of NCI Building Systems from a “b-” rating to a “c+” rating in a research note on Wednesday, August 15th. Finally, Citigroup lowered their target price on shares of NCI Building Systems from $22.00 to $17.00 and set a “$16.05” rating for the company in a research note on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.67.
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About NCI Building Systems
NCI Building Systems, Inc, together with its subsidiaries, designs, engineers, manufactures, and markets metal products for the nonresidential construction industry in North America. It operates through three segments: Engineered Building Systems, Metal Components, and Metal Coil Coating. The Engineered Building Systems segment offers engineered structural members and panels; and self-storage building systems under the Metallic, Mid-West Steel, A & S, All American, Mesco, Star, Ceco, Robertson, Garco, Heritage, and SteelBuilding.com brands to builders, general contractors, developers, and end users directly, as well as through private label companies.
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