Alliancebernstein L.P. Buys Shares of 16,200 Foundation Building Materials, Inc. (FBM)

Alliancebernstein L.P. bought a new stake in shares of Foundation Building Materials, Inc. (NYSE:FBM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,200 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC purchased a new position in Foundation Building Materials during the 1st quarter valued at $1,256,000. JPMorgan Chase & Co. purchased a new position in Foundation Building Materials during the 1st quarter valued at $133,000. Prudential Financial Inc. purchased a new position in Foundation Building Materials during the 2nd quarter valued at $282,000. TIAA CREF Investment Management LLC purchased a new position in Foundation Building Materials during the 1st quarter valued at $333,000. Finally, Kennedy Capital Management Inc. purchased a new position in Foundation Building Materials during the 2nd quarter valued at $2,597,000. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Alliancebernstein L.P. Buys Shares of 16,200 Foundation Building Materials, Inc. (FBM)” was first published by Markets Daily and is the property of of Markets Daily. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.themarketsdaily.com/2017/11/14/alliancebernstein-l-p-buys-shares-of-16200-foundation-building-materials-inc-fbm.html.

A number of equities analysts recently issued reports on FBM shares. Royal Bank Of Canada dropped their price objective on Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Barclays PLC dropped their price objective on Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Deutsche Bank AG lowered their target price on Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Zacks Investment Research upgraded 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 issued a $15.00 target price on shares of Foundation Building Materials in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $18.43.

Shares of Foundation Building Materials, Inc. (FBM) opened at $13.75 on Tuesday. Foundation Building Materials, Inc. has a 1-year low of $11.03 and a 1-year high of $17.91. 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 issued its earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Foundation Building Materials had a negative return on equity of 2.98% and a negative net margin of 0.11%. The business had revenue of $535.40 million during the quarter, compared to analysts’ expectations of $535.81 million. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. equities research analysts predict that Foundation Building Materials, Inc. will post 0.22 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Foundation Building Materials (NYSE:FBM)

Receive News & Ratings for Foundation Building Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Building Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply