Foundation Building Materials Sees Unusually High Options Volume (NYSE:FBM)

Foundation Building Materials Inc (NYSE:FBM) was the target of unusually large options trading on Thursday. Traders acquired 4,806 put options on the company. This is an increase of 1,039% compared to the average volume of 422 put options.

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Foundation Building Materials during the 2nd quarter worth approximately $26,000. BNP Paribas Arbitrage SA increased its holdings in shares of Foundation Building Materials by 680.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,081 shares of the company’s stock worth $30,000 after acquiring an additional 2,686 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Foundation Building Materials during the 2nd quarter worth approximately $36,000. Aperio Group LLC acquired a new position in shares of Foundation Building Materials during the 2nd quarter worth approximately $38,000. Finally, Globeflex Capital L P increased its holdings in shares of Foundation Building Materials by 18.4% during the 1st quarter. Globeflex Capital L P now owns 14,875 shares of the company’s stock worth $146,000 after acquiring an additional 2,308 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Foundation Building Materials has an average rating of “Hold” and an average target price of $14.33.

Shares of FBM stock traded down $0.25 during trading on Friday, reaching $18.26. 135,687 shares of the company’s stock were exchanged, compared to its average volume of 189,695. The company has a quick ratio of 1.38, a current ratio of 1.98 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $775.08 million, a PE ratio of 52.17 and a beta of 1.46. Foundation Building Materials has a twelve month low of $7.62 and a twelve month high of $19.74. The firm’s fifty day moving average price is $17.52 and its 200-day moving average price is $14.79.

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

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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