Foundation Building Materials, Inc. (FBM) Shares Bought by Elk Creek Partners LLC
Elk Creek Partners LLC increased its stake in Foundation Building Materials, Inc. (NYSE:FBM) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 576,205 shares of the company’s stock after buying an additional 39,403 shares during the period. Elk Creek Partners LLC owned about 1.34% of Foundation Building Materials worth $8,148,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. American Century Companies Inc. increased its stake in Foundation Building Materials by 72.9% during the second quarter. American Century Companies Inc. now owns 1,092,729 shares of the company’s stock valued at $14,052,000 after purchasing an additional 460,583 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new stake in Foundation Building Materials during the third quarter valued at $5,178,000. Kennedy Capital Management Inc. bought a new stake in Foundation Building Materials during the second quarter valued at $2,597,000. Citadel Advisors LLC increased its stake in Foundation Building Materials by 28.0% during the third quarter. Citadel Advisors LLC now owns 578,666 shares of the company’s stock valued at $8,182,000 after purchasing an additional 126,474 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Foundation Building Materials by 326.0% during the second quarter. Northern Trust Corp now owns 139,880 shares of the company’s stock valued at $1,798,000 after purchasing an additional 107,048 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.
FBM has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Royal Bank Of Canada reiterated a “buy” rating and set a $15.00 target price on shares of Foundation Building Materials in a research note on Wednesday, September 6th. Deutsche Bank lowered their target price on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Finally, Robert W. Baird reiterated a “hold” rating and set a $16.00 target price on shares of Foundation Building Materials in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Foundation Building Materials currently has a consensus rating of “Buy” and a consensus price target of $18.43.
Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $535.40 million during the quarter, compared to the consensus estimate of $535.81 million. Foundation Building Materials had a negative net margin of 0.11% and a negative return on equity of 2.98%. The business’s revenue was up 28.8% compared to the same quarter last year. research analysts expect that Foundation Building Materials, Inc. will post 0.22 earnings per share for the current fiscal year.
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About Foundation Building Materials
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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