Kornitzer Capital Management Inc. KS increased its position in Foundation Building Materials, Inc. (NYSE:FBM) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Foundation Building Materials were worth $1,685,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in shares of Foundation Building Materials during the first quarter worth about $133,000. Bank of America Corp DE bought a new position in shares of Foundation Building Materials during the first quarter worth about $258,000. Wells Fargo & Company MN bought a new position in shares of Foundation Building Materials during the first quarter worth about $261,000. TIAA CREF Investment Management LLC bought a new position in shares of Foundation Building Materials during the first quarter worth about $333,000. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Foundation Building Materials during the first quarter worth about $394,000. Institutional investors own 91.02% of the company’s stock.

Foundation Building Materials (NYSE:FBM) last posted its earnings results on Thursday, August 3rd. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.14 by $0.11. The company had revenue of $529.20 million for the quarter, compared to analyst estimates of $536.72 million. The business’s quarterly revenue was up 95.9% compared to the same quarter last year.

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A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays PLC reduced their target price on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Zacks Investment Research lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.86.

In other Foundation Building Materials news, CFO John Gorey bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $14.49 per share, for a total transaction of $144,900.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ruben Mendoza bought 14,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average price of $13.98 per share, for a total transaction of $195,720.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 56,528 shares of company stock worth $846,016.

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.

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

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