Acadian Asset Management LLC Acquires 30,760 Shares of Foundation Building Materials Inc (FBM)

Acadian Asset Management LLC grew its holdings in shares of Foundation Building Materials Inc (NYSE:FBM) by 11.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 292,176 shares of the company’s stock after acquiring an additional 30,760 shares during the quarter. Acadian Asset Management LLC’s holdings in Foundation Building Materials were worth $3,644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Strs Ohio raised its position in shares of Foundation Building Materials by 11.8% during the 3rd quarter. Strs Ohio now owns 52,100 shares of the company’s stock valued at $649,000 after buying an additional 5,500 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Foundation Building Materials by 0.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,112,780 shares of the company’s stock valued at $13,876,000 after buying an additional 8,486 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Foundation Building Materials by 23.9% during the 2nd quarter. GSA Capital Partners LLP now owns 46,414 shares of the company’s stock valued at $714,000 after buying an additional 8,945 shares in the last quarter. Bank of Montreal Can purchased a new stake in Foundation Building Materials in the 2nd quarter worth about $174,000. Finally, IndexIQ Advisors LLC raised its position in Foundation Building Materials by 8.6% in the 2nd quarter. IndexIQ Advisors LLC now owns 146,706 shares of the company’s stock worth $2,256,000 after purchasing an additional 11,606 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Foundation Building Materials stock opened at $9.85 on Friday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.60 and a current ratio of 2.86. Foundation Building Materials Inc has a 1-year low of $9.26 and a 1-year high of $16.40. The stock has a market capitalization of $422.52 million, a P/E ratio of 32.83 and a beta of 1.35.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06. Foundation Building Materials had a net margin of 2.07% and a return on equity of 6.25%. The company had revenue of $542.30 million for the quarter, compared to analyst estimates of $555.47 million. During the same period in the prior year, the company posted $0.08 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts expect that Foundation Building Materials Inc will post 0.49 EPS for the current fiscal year.

FBM has been the topic of a number of recent analyst reports. Barclays set a $15.00 price objective on shares of Foundation Building Materials and gave the stock a “buy” rating in a research report on Saturday, November 3rd. TheStreet lowered shares of Foundation Building Materials from a “c-” rating to a “d+” rating in a research report on Thursday, October 25th. Zacks Investment Research lowered shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Finally, ValuEngine lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $17.43.

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Foundation Building Materials Profile

Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.

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

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