Elk Creek Partners LLC Has $6.02 Million Position in Foundation Building Materials Inc (FBM)

Elk Creek Partners LLC lessened its holdings in Foundation Building Materials Inc (NYSE:FBM) by 19.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 482,607 shares of the company’s stock after selling 113,580 shares during the period. Elk Creek Partners LLC owned 1.12% of Foundation Building Materials worth $6,018,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Strs Ohio lifted its stake in shares of Foundation Building Materials by 11.8% in the 3rd quarter. Strs Ohio now owns 52,100 shares of the company’s stock valued at $649,000 after purchasing an additional 5,500 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Foundation Building Materials by 0.8% in 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 purchasing an additional 8,486 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Foundation Building Materials by 19.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 54,648 shares of the company’s stock valued at $682,000 after purchasing an additional 8,935 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Foundation Building Materials by 23.9% in the 2nd quarter. GSA Capital Partners LLP now owns 46,414 shares of the company’s stock valued at $714,000 after purchasing an additional 8,945 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Foundation Building Materials by 3,253.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,570 shares of the company’s stock valued at $145,000 after purchasing an additional 11,225 shares during the last quarter. 92.79% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, August 13th. TheStreet lowered shares of Foundation Building Materials from a “c-” rating to a “d+” rating in a research note on Thursday, October 25th. Zacks Investment Research raised shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, ValuEngine lowered shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $17.67.

Foundation Building Materials stock opened at $9.52 on Friday. The firm has a market cap of $418.23 million, a price-to-earnings ratio of 17.73 and a beta of 1.35. The company has a debt-to-equity ratio of 2.14, a current ratio of 2.86 and a quick ratio of 2.19. Foundation Building Materials Inc has a fifty-two week low of $9.26 and a fifty-two week high of $16.40.

Foundation Building Materials (NYSE:FBM) last released its earnings results 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. The firm had revenue of $542.30 million during the quarter, compared to analyst estimates of $555.47 million. Foundation Building Materials had a net margin of 2.07% and a return on equity of 6.25%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS. Equities analysts forecast that Foundation Building Materials Inc will post 0.43 earnings per share for the current fiscal year.

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About Foundation Building Materials

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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