Foundation Building Materials Inc (NYSE:FBM) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 328,200 shares, a decrease of 10.8% from the June 30th total of 367,900 shares. Based on an average trading volume of 270,400 shares, the short-interest ratio is currently 1.2 days. Approximately 1.9% of the company’s stock are sold short.

Shares of NYSE FBM traded up $0.06 during trading on Thursday, reaching $17.96. The company had a trading volume of 222,900 shares, compared to its average volume of 179,152. Foundation Building Materials has a 12-month low of $7.62 and a 12-month high of $19.74. The stock has a market cap of $769.52 million, a PE ratio of 51.31 and a beta of 1.48. The business’s 50-day moving average is $17.41 and its 200 day moving average is $13.72. The company has a quick ratio of 1.38, a current ratio of 1.98 and a debt-to-equity ratio of 1.74.

Foundation Building Materials (NYSE:FBM) last released its earnings results on Monday, August 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Foundation Building Materials had a return on equity of 9.30% and a net margin of 0.08%. The firm had revenue of $559.91 million for the quarter, compared to analysts’ expectations of $574.68 million. During the same period in the prior year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Foundation Building Materials will post 0.85 earnings per share for the current year.

A number of equities research analysts have recently commented on the company. TheStreet raised Foundation Building Materials from a “d+” rating to a “c” rating in a research note on Friday, April 26th. Zacks Investment Research cut Foundation Building Materials from a “buy” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Foundation Building Materials by 65.8% during the second quarter. BlackRock Inc. now owns 1,495,052 shares of the company’s stock valued at $26,583,000 after buying an additional 593,221 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Foundation Building Materials by 736.5% during the second quarter. Renaissance Technologies LLC now owns 536,188 shares of the company’s stock valued at $9,533,000 after buying an additional 472,088 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Foundation Building Materials by 42.5% during the second quarter. Acadian Asset Management LLC now owns 399,638 shares of the company’s stock valued at $7,106,000 after buying an additional 119,156 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Foundation Building Materials during the second quarter valued at $6,105,000. Finally, Boston Partners boosted its position in shares of Foundation Building Materials by 3.5% during the first quarter. Boston Partners now owns 209,314 shares of the company’s stock valued at $2,060,000 after buying an additional 7,125 shares during the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

About Foundation Building Materials

Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.

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