Continental Building Products, Inc. (NYSE:CBPX) Shares Bought by Bank of America Corp DE
Bank of America Corp DE boosted its position in Continental Building Products, Inc. (NYSE:CBPX) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 133,354 shares of the construction company’s stock after buying an additional 19,143 shares during the period. Bank of America Corp DE’s holdings in Continental Building Products were worth $3,267,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in Continental Building Products by 26.7% in the first quarter. SG Americas Securities LLC now owns 8,340 shares of the construction company’s stock worth $204,000 after buying an additional 1,759 shares during the last quarter. Victory Capital Management Inc. increased its stake in Continental Building Products by 30.1% in the first quarter. Victory Capital Management Inc. now owns 8,987 shares of the construction company’s stock worth $220,000 after buying an additional 2,079 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Continental Building Products during the first quarter worth approximately $221,000. KCG Holdings Inc. purchased a new stake in Continental Building Products during the first quarter worth approximately $223,000. Finally, Stevens Capital Management LP purchased a new stake in Continental Building Products during the first quarter worth approximately $288,000. Institutional investors own 95.58% of the company’s stock.
Shares of Continental Building Products, Inc. (NYSE:CBPX) traded down 4.73% during mid-day trading on Monday, hitting $22.15. The stock had a trading volume of 50,783 shares. The firm has a market cap of $868.72 million, a P/E ratio of 20.34 and a beta of 1.28. Continental Building Products, Inc. has a 12-month low of $18.35 and a 12-month high of $26.52. The company has a 50 day moving average price of $22.84 and a 200 day moving average price of $23.94.
Continental Building Products (NYSE:CBPX) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.03. The company had revenue of $120.60 million during the quarter, compared to analyst estimates of $127.60 million. Continental Building Products had a return on equity of 15.43% and a net margin of 9.16%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Equities analysts forecast that Continental Building Products, Inc. will post $1.35 earnings per share for the current fiscal year.
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CBPX has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Continental Building Products in a research report on Friday, May 5th. Zacks Investment Research upgraded Continental Building Products from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Monday, July 3rd. Finally, BidaskClub upgraded Continental Building Products from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $25.25.
About Continental Building Products
Continental Building Products, Inc is a manufacturer of gypsum wallboard and complementary finishing products. The Company operates through wallboard segment. Gypsum wallboard is a primary building material used in residential and commercial construction and in repair and remodel (R&R). It offers customers a range of gypsum wallboard products, including LiftLite, its lightweight product designed to lift and install; its Mold Defense line of products designed for protection against mold and mildew, and its Weather Defense line of moisture and mold-resistant exterior sheathing.
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