Alliancebernstein L.P. reduced its stake in shares of NCI Building Systems, Inc. (NYSE:NCS) by 67.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,400 shares of the construction company’s stock after selling 87,300 shares during the period. Alliancebernstein L.P. owned 0.06% of NCI Building Systems worth $691,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of NCI Building Systems by 22.3% during the 1st quarter. Victory Capital Management Inc. now owns 6,594 shares of the construction company’s stock worth $113,000 after acquiring an additional 1,203 shares during the period. Legal & General Group Plc lifted its holdings in shares of NCI Building Systems by 41.0% during the 2nd quarter. Legal & General Group Plc now owns 8,802 shares of the construction company’s stock worth $147,000 after acquiring an additional 2,559 shares during the period. Eqis Capital Management Inc. purchased a new position in shares of NCI Building Systems during the 2nd quarter worth about $186,000. Airain ltd purchased a new position in shares of NCI Building Systems during the 2nd quarter worth about $202,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of NCI Building Systems by 28.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 13,796 shares of the construction company’s stock worth $237,000 after acquiring an additional 3,082 shares during the period. Institutional investors and hedge funds own 93.94% of the company’s stock.
Several research analysts recently commented on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price target on shares of NCI Building Systems in a report on Wednesday, October 18th. Zacks Investment Research lowered shares of NCI Building Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub lowered shares of NCI Building Systems from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Finally, Barclays PLC restated a “buy” rating and issued a $16.00 price target (down previously from $19.00) on shares of NCI Building Systems in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $17.33.
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NCI Building Systems (NYSE:NCS) last posted its earnings results on Wednesday, September 6th. The construction company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.05). NCI Building Systems had a return on equity of 18.31% and a net margin of 3.18%. The company had revenue of $469.40 million during the quarter, compared to analyst estimates of $495.21 million. During the same quarter last year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year.
NCI Building Systems declared that its Board of Directors has approved a share repurchase program on Tuesday, October 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other NCI Building Systems news, Director James S. Metcalf purchased 30,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was bought at an average cost of $13.42 per share, for a total transaction of $402,600.00. Following the completion of the acquisition, the director now directly owns 30,000 shares in the company, valued at $402,600. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Todd R. Moore sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $13.75, for a total value of $82,500.00. Following the transaction, the executive vice president now owns 82,458 shares of the company’s stock, valued at $1,133,797.50. The disclosure for this sale can be found here. 1.78% of the stock is currently owned by insiders.
NCI Building Systems Profile
NCI Building Systems, Inc is a manufacturer and marketer of metal products in North America. The Company’s operating segments include Engineered building systems, Metal components and Metal coil coating. The Engineered building systems segment is engaged in the manufacturing of main frames and long bay systems, and engineering and drafting.
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