Foundation Building Materials Inc (NYSE:FBM) Position Reduced by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY trimmed its holdings in Foundation Building Materials Inc (NYSE:FBM) by 88.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,000 shares of the company’s stock after selling 616,616 shares during the period. Paradigm Capital Management Inc. NY owned about 0.19% of Foundation Building Materials worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Foundation Building Materials by 19.5% in the third quarter. Bank of New York Mellon Corp now owns 54,648 shares of the company’s stock valued at $682,000 after acquiring an additional 8,935 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Foundation Building Materials by 13.2% during the third quarter. TIAA CREF Investment Management LLC now owns 140,987 shares of the company’s stock worth $1,758,000 after acquiring an additional 16,393 shares during the last quarter. Strs Ohio grew its holdings in shares of Foundation Building Materials by 25.0% during the fourth quarter. Strs Ohio now owns 65,100 shares of the company’s stock worth $540,000 after buying an additional 13,000 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Foundation Building Materials by 42.3% during the fourth quarter. Rhumbline Advisers now owns 20,189 shares of the company’s stock worth $168,000 after buying an additional 5,997 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Foundation Building Materials during the fourth quarter worth about $249,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on FBM. Zacks Investment Research upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Tuesday, June 4th. ValuEngine upgraded shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Finally, TheStreet upgraded shares of Foundation Building Materials from a “d+” rating to a “c” rating in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.50.

Shares of NYSE:FBM traded up $1.09 on Friday, reaching $17.78. 472,900 shares of the company’s stock were exchanged, compared to its average volume of 148,927. The company has a market cap of $717.47 million, a price-to-earnings ratio of 50.80 and a beta of 1.36. Foundation Building Materials Inc has a fifty-two week low of $7.62 and a fifty-two week high of $17.78. The business has a 50-day simple moving average of $15.71. The company has a debt-to-equity ratio of 1.86, a current ratio of 2.05 and a quick ratio of 1.40.

Foundation Building Materials (NYSE:FBM) last issued its earnings results on Monday, May 6th. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. The company had revenue of $514.87 million for the quarter, compared to analysts’ expectations of $509.19 million. Foundation Building Materials had a negative net margin of 0.35% and a positive return on equity of 7.22%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) earnings per share. Sell-side analysts anticipate that Foundation Building Materials Inc will post 0.8 EPS for the current year.

About Foundation Building Materials

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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