Goldman Sachs Group Inc. Purchases 32,043 Shares of Foundation Building Materials Inc (FBM)

Goldman Sachs Group Inc. raised its position in Foundation Building Materials Inc (NYSE:FBM) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,997,160 shares of the company’s stock after acquiring an additional 32,043 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Foundation Building Materials were worth $29,538,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FBM. Alyeska Investment Group L.P. increased its stake in Foundation Building Materials by 47.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,356,013 shares of the company’s stock valued at $19,174,000 after buying an additional 433,700 shares during the period. Tygh Capital Management Inc. increased its stake in Foundation Building Materials by 438.1% in the 4th quarter. Tygh Capital Management Inc. now owns 394,114 shares of the company’s stock valued at $5,829,000 after buying an additional 320,874 shares during the period. Driehaus Capital Management LLC increased its stake in Foundation Building Materials by 58.6% in the 4th quarter. Driehaus Capital Management LLC now owns 533,738 shares of the company’s stock valued at $7,894,000 after buying an additional 197,162 shares during the period. Clearbridge Investments LLC increased its stake in Foundation Building Materials by 7,379.6% in the 4th quarter. Clearbridge Investments LLC now owns 188,487 shares of the company’s stock valued at $2,788,000 after buying an additional 185,967 shares during the period. Finally, SG Capital Management LLC acquired a new position in Foundation Building Materials in the 4th quarter valued at $2,442,000. 94.19% of the stock is currently owned by institutional investors.

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Foundation Building Materials Inc (NYSE:FBM) opened at $14.86 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.50 and a current ratio of 2.26. Foundation Building Materials Inc has a 12 month low of $11.03 and a 12 month high of $17.91. The firm has a market cap of $656.27 and a price-to-earnings ratio of 85.06.

Foundation Building Materials (NYSE:FBM) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.17. Foundation Building Materials had a net margin of 4.00% and a return on equity of 2.44%. The business had revenue of $516.77 million for the quarter, compared to analysts’ expectations of $513.28 million. During the same period in the prior year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. research analysts predict that Foundation Building Materials Inc will post 0.57 earnings per share for the current year.

Several brokerages have issued reports on FBM. Zacks Investment Research raised shares of Foundation Building Materials from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Monday. Raymond James Financial raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a research note on Thursday, February 8th. UBS raised shares of Foundation Building Materials from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, February 8th. Citigroup boosted their price objective on shares of Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays set a $19.00 price objective on shares of Foundation Building Materials and gave the company a “buy” rating in a research note on Sunday, January 7th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Foundation Building Materials currently has a consensus rating of “Buy” and a consensus target price of $17.57.

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About Foundation Building Materials

Foundation Building Materials, Inc is a specialty distributor of wallboard and suspended ceiling systems in the United States and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.

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

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