Alambic Investment Management L.P. trimmed its stake in shares of Continental Building Products Inc (NYSE:CBPX) by 66.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 48,524 shares of the construction company’s stock after selling 96,394 shares during the quarter. Alambic Investment Management L.P. owned about 0.13% of Continental Building Products worth $1,531,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in CBPX. Prudential Financial Inc. lifted its position in shares of Continental Building Products by 31.8% during the 1st quarter. Prudential Financial Inc. now owns 744,583 shares of the construction company’s stock valued at $21,258,000 after acquiring an additional 179,821 shares during the period. KAMES CAPITAL plc bought a new stake in shares of Continental Building Products during the 2nd quarter valued at $4,596,000. Renaissance Technologies LLC lifted its position in shares of Continental Building Products by 41.8% during the 2nd quarter. Renaissance Technologies LLC now owns 484,400 shares of the construction company’s stock valued at $15,283,000 after acquiring an additional 142,700 shares during the period. FMR LLC lifted its position in shares of Continental Building Products by 11.8% during the 2nd quarter. FMR LLC now owns 1,346,475 shares of the construction company’s stock valued at $42,482,000 after acquiring an additional 142,119 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Continental Building Products by 5.0% during the 2nd quarter. BlackRock Inc. now owns 2,456,119 shares of the construction company’s stock valued at $77,491,000 after acquiring an additional 117,124 shares during the period. Hedge funds and other institutional investors own 97.88% of the company’s stock.
Continental Building Products stock opened at $37.65 on Friday. 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 Inc has a 52 week low of $24.20 and a 52 week high of $39.60. The firm has a market cap of $1.39 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 0.62 and a beta of 1.19.
Continental Building Products (NYSE:CBPX) last posted its quarterly earnings results on Thursday, August 2nd. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.15. Continental Building Products had a return on equity of 19.57% and a net margin of 14.04%. The company had revenue of $139.27 million during the quarter, compared to analysts’ expectations of $130.37 million. During the same quarter in the previous year, the firm earned $0.32 EPS. Continental Building Products’s revenue was up 15.5% on a year-over-year basis. research analysts forecast that Continental Building Products Inc will post 2.03 EPS for the current year.
In other news, SVP Dennis Romps sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $36.20, for a total transaction of $362,000.00. Following the completion of the transaction, the senior vice president now owns 31,265 shares of the company’s stock, valued at approximately $1,131,793. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by insiders.
CBPX has been the subject of a number of recent analyst reports. Barclays upped their target price on Continental Building Products from $33.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Raymond James upgraded Continental Building Products from a “market perform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Monday, August 6th. Zacks Investment Research upgraded Continental Building Products from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Wednesday, August 8th. ValuEngine downgraded Continental Building Products from a “buy” rating to a “hold” rating in a research report on Thursday, May 24th. Finally, Citigroup upped their target price on Continental Building Products from $31.00 to $33.00 and gave the company a “$32.10” rating in a research report on Monday, July 23rd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.89.
Continental Building Products 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.
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