APG Asset Management N.V. acquired a new position in shares of Foundation Building Materials Inc (NYSE:FBM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 93,700 shares of the company’s stock, valued at approximately $1,463,000. APG Asset Management N.V. owned approximately 0.22% of Foundation Building Materials at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Foundation Building Materials by 736.5% in the 2nd 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. Hillsdale Investment Management Inc. purchased a new stake in shares of Foundation Building Materials during the 2nd quarter worth approximately $3,229,000. Acadian Asset Management LLC increased its stake in shares of Foundation Building Materials by 42.5% during the 2nd quarter. Acadian Asset Management LLC now owns 399,638 shares of the company’s stock worth $7,106,000 after purchasing an additional 119,156 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Foundation Building Materials by 495.9% during the 2nd quarter. Bank of Montreal Can now owns 85,363 shares of the company’s stock worth $1,518,000 after purchasing an additional 71,038 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Foundation Building Materials during the 2nd quarter worth approximately $1,061,000. Institutional investors own 90.34% of the company’s stock.
In other news, major shareholder John P. Grayken sold 4,750,000 shares of Foundation Building Materials stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $16.28, for a total transaction of $77,330,000.00. Insiders own 0.84% of the company’s stock.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.12. Foundation Building Materials had a net margin of 0.08% and a return on equity of 9.30%. The firm had revenue of $559.91 million during the quarter, compared to the consensus estimate of $574.68 million. During the same period last year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Foundation Building Materials Inc will post 0.85 earnings per share for the current year.
Several equities research analysts have recently issued reports on FBM shares. ValuEngine upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America began coverage on shares of Foundation Building Materials in a report on Friday. They issued a “buy” rating and a $20.00 price objective for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Foundation Building Materials currently has a consensus rating of “Hold” and a consensus target price of $14.50.
Foundation Building Materials Company Profile
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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