Foundation Building Materials Inc (FBM) Position Boosted by Nationwide Fund Advisors
Nationwide Fund Advisors boosted its position in Foundation Building Materials Inc (NYSE:FBM) by 1,234.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,454 shares of the company’s stock after buying an additional 86,453 shares during the period. Nationwide Fund Advisors owned approximately 0.22% of Foundation Building Materials worth $1,321,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in Foundation Building Materials in the third quarter valued at $165,000. California State Teachers Retirement System acquired a new position in Foundation Building Materials in the second quarter valued at $296,000. The Manufacturers Life Insurance Company acquired a new position in Foundation Building Materials in the second quarter valued at $143,000. Cubist Systematic Strategies LLC lifted its holdings in Foundation Building Materials by 9.2% in the second quarter. Cubist Systematic Strategies LLC now owns 20,223 shares of the company’s stock valued at $260,000 after buying an additional 1,710 shares during the period. Finally, State Street Corp raised its holdings in shares of Foundation Building Materials by 102.0% during the second quarter. State Street Corp now owns 209,487 shares of the company’s stock valued at $2,692,000 after purchasing an additional 105,772 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.
Foundation Building Materials Inc (FBM) opened at $14.90 on Wednesday. Foundation Building Materials Inc has a fifty-two week low of $11.03 and a fifty-two week high of $17.91. The firm has a market cap of $640.84 and a PE ratio of -114.62. The company has a current ratio of 2.63, a quick ratio of 1.82 and a debt-to-equity ratio of 2.02.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. Foundation Building Materials had a negative net margin of 0.11% and a negative return on equity of 2.98%. The firm had revenue of $535.40 million for the quarter, compared to analyst estimates of $535.81 million. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. sell-side analysts forecast that Foundation Building Materials Inc will post 0.22 EPS for the current fiscal year.
FBM has been the topic of several research reports. Royal Bank of Canada reiterated a “buy” rating and set a $15.00 price objective on shares of Foundation Building Materials in a report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, Robert W. Baird reiterated a “hold” rating and set a $15.00 price objective on shares of Foundation Building Materials in a report on Monday, October 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.43.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc is a specialty distributor of wallboard and suspended ceiling systems in the United States and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.
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