Northern Trust Corp Has $3.38 Million Stake in Foundation Building Materials Inc (NYSE:FBM)

Northern Trust Corp boosted its position in shares of Foundation Building Materials Inc (NYSE:FBM) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,176 shares of the company’s stock after acquiring an additional 6,767 shares during the period. Northern Trust Corp owned 0.44% of Foundation Building Materials worth $3,381,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Foundation Building Materials during the 2nd quarter worth $26,000. Quantamental Technologies LLC acquired a new position in Foundation Building Materials during the 2nd quarter worth $36,000. Aperio Group LLC acquired a new position in Foundation Building Materials during the 2nd quarter worth $38,000. BNP Paribas Arbitrage SA lifted its position in Foundation Building Materials by 680.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,081 shares of the company’s stock worth $30,000 after acquiring an additional 2,686 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in Foundation Building Materials by 2,986.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,907 shares of the company’s stock worth $177,000 after acquiring an additional 9,586 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

In other news, major shareholder John P. Grayken sold 4,750,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $16.28, for a total transaction of $77,330,000.00. Insiders own 0.84% of the company’s stock.

NYSE:FBM opened at $17.10 on Friday. The firm’s 50-day moving average is $16.91 and its 200-day moving average is $15.65. Foundation Building Materials Inc has a 52-week low of $7.62 and a 52-week high of $19.74. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.38 and a current ratio of 1.98. The company has a market cap of $714.49 million, a price-to-earnings ratio of 21.31 and a beta of 1.44.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.12. Foundation Building Materials had a net margin of 0.08% and a return on equity of 9.30%. The company had revenue of $559.91 million for the quarter, compared to the consensus estimate of $574.68 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Foundation Building Materials Inc will post 0.85 EPS for the current year.

FBM has been the subject of a number of research analyst reports. Bank of America initiated coverage on shares of Foundation Building Materials in a research report on Friday. They set a “buy” rating and a $20.00 target price for the company. Zacks Investment Research lowered shares of Foundation Building Materials from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine raised shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Foundation Building Materials has an average rating of “Hold” and a consensus price target of $14.50.

Foundation Building Materials Profile

Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.

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

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