Massachusetts Financial Services Co. MA lifted its holdings in shares of Foundation Building Materials Inc (NYSE:FBM) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 1,112,780 shares of the company’s stock after purchasing an additional 8,486 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Foundation Building Materials were worth $13,876,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Strs Ohio increased its holdings in Foundation Building Materials by 11.8% in the third quarter. Strs Ohio now owns 52,100 shares of the company’s stock valued at $649,000 after buying an additional 5,500 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Foundation Building Materials by 23.9% in the second quarter. GSA Capital Partners LLP now owns 46,414 shares of the company’s stock valued at $714,000 after buying an additional 8,945 shares during the last quarter. Bank of Montreal Can bought a new stake in Foundation Building Materials in the second quarter valued at about $174,000. IndexIQ Advisors LLC increased its holdings in Foundation Building Materials by 8.6% in the second quarter. IndexIQ Advisors LLC now owns 146,706 shares of the company’s stock valued at $2,256,000 after buying an additional 11,606 shares during the last quarter. Finally, CIBC World Markets Inc. bought a new stake in Foundation Building Materials in the second quarter valued at about $179,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on FBM. Zacks Investment Research raised Foundation Building Materials from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, July 10th. Barclays lowered their price objective on Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 13th. ValuEngine lowered Foundation Building Materials from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, TheStreet lowered Foundation Building Materials from a “c-” rating to a “d+” rating in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $17.38.
NYSE:FBM opened at $9.85 on Wednesday. The company has a market cap of $461.12 million, a PE ratio of 32.83 and a beta of 1.35. Foundation Building Materials Inc has a 52 week low of $9.26 and a 52 week high of $16.40. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.41 and a quick ratio of 1.60.
Foundation Building Materials (NYSE:FBM) last posted its earnings results on Thursday, November 1st. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The company had revenue of $542.30 million during the quarter, compared to analyst estimates of $555.47 million. Foundation Building Materials had a return on equity of 6.12% and a net margin of 2.07%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. Equities research analysts anticipate that Foundation Building Materials Inc will post 0.49 EPS for the current year.
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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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