Prudential Financial Inc. Boosts Position in Continental Building Products Inc (CBPX)

Prudential Financial Inc. increased its holdings in shares of Continental Building Products Inc (NYSE:CBPX) by 20.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 843,755 shares of the construction company’s stock after acquiring an additional 142,162 shares during the period. Prudential Financial Inc.’s holdings in Continental Building Products were worth $31,683,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CBPX. JPMorgan Chase & Co. raised its holdings in shares of Continental Building Products by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 604,246 shares of the construction company’s stock valued at $22,689,000 after purchasing an additional 31,328 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Continental Building Products by 1,190.1% during the third quarter. SG Americas Securities LLC now owns 98,087 shares of the construction company’s stock valued at $3,683,000 after purchasing an additional 90,484 shares during the last quarter. Stone Ridge Asset Management LLC raised its holdings in shares of Continental Building Products by 13.0% during the third quarter. Stone Ridge Asset Management LLC now owns 17,071 shares of the construction company’s stock valued at $641,000 after purchasing an additional 1,967 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Continental Building Products by 291.5% during the third quarter. O Shaughnessy Asset Management LLC now owns 123,386 shares of the construction company’s stock valued at $4,602,000 after purchasing an additional 91,869 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Continental Building Products during the third quarter valued at approximately $303,000.

In other Continental Building Products news, Director Edward M. Bosowski bought 1,500 shares of Continental Building Products stock in a transaction on Friday, November 16th. The stock was acquired at an average cost of $29.28 per share, with a total value of $43,920.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on CBPX shares. Zacks Investment Research cut shares of Continental Building Products from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Barclays upped their target price on shares of Continental Building Products from $33.00 to $39.00 and gave the company a “buy” rating in a report on Friday, August 3rd. ValuEngine raised shares of Continental Building Products from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. SunTrust Banks reaffirmed a “hold” rating and set a $31.00 target price on shares of Continental Building Products in a report on Friday, August 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $35.00 target price on shares of Continental Building Products in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Continental Building Products presently has an average rating of “Hold” and a consensus target price of $35.00.

Shares of CBPX stock opened at $28.62 on Friday. Continental Building Products Inc has a 12 month low of $25.51 and a 12 month high of $39.60. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.01 and a beta of 1.50. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.01 and a quick ratio of 3.32.

Continental Building Products (NYSE:CBPX) last announced its earnings results on Thursday, November 8th. The construction company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. Continental Building Products had a net margin of 15.10% and a return on equity of 21.14%. The business had revenue of $131.20 million during the quarter, compared to analysts’ expectations of $124.65 million. During the same period in the prior year, the company earned $0.29 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, research analysts predict that Continental Building Products Inc will post 2.04 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by WKRB News and is the property of of WKRB News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.wkrb13.com/2018/11/24/prudential-financial-inc-boosts-position-in-continental-building-products-inc-cbpx.html.

About Continental Building Products

Continental Building Products, Inc manufactures and sells gypsum wallboard and complementary finishing products in the eastern United States and eastern Canada. The company sells its products to gypsum wallboard distributors, buying groups, wholesalers, and mass merchants in the new residential, repair and remodel, and commercial construction markets under the LiftLite, Mold Defense, and Weather Defense brand names.

Further Reading: What are Institutional Investors?

Want to see what other hedge funds are holding CBPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Continental Building Products Inc (NYSE:CBPX).

Institutional Ownership by Quarter for Continental Building Products (NYSE:CBPX)

Receive News & Ratings for Continental Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Building Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply