JPMorgan Chase & Co. increased its holdings in Continental Building Products Inc (NYSE:CBPX) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 604,246 shares of the construction company’s stock after buying an additional 31,328 shares during the period. JPMorgan Chase & Co. owned about 1.63% of Continental Building Products worth $22,689,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Dupont Capital Management Corp bought a new stake in Continental Building Products in the 2nd quarter valued at $558,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Continental Building Products in the 2nd quarter valued at $352,000. Rhumbline Advisers increased its holdings in Continental Building Products by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 35,551 shares of the construction company’s stock valued at $1,122,000 after acquiring an additional 1,607 shares during the last quarter. LSV Asset Management increased its holdings in Continental Building Products by 20.0% in the 2nd quarter. LSV Asset Management now owns 28,200 shares of the construction company’s stock valued at $889,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Systematic Financial Management LP increased its holdings in Continental Building Products by 5.7% in the 2nd quarter. Systematic Financial Management LP now owns 964,046 shares of the construction company’s stock valued at $30,416,000 after acquiring an additional 52,135 shares during the last quarter. Institutional investors and hedge funds own 98.57% of the company’s stock.
In other Continental Building Products news, Director Edward M. Bosowski bought 1,500 shares of Continental Building Products stock in a transaction dated Friday, November 16th. The shares were purchased at an average cost of $29.28 per share, for a total transaction of $43,920.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.
Continental Building Products (NYSE:CBPX) last posted its earnings results on Thursday, November 8th. The construction company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $131.20 million for the quarter, compared to the consensus estimate of $124.65 million. During the same period in the previous year, the firm posted $0.29 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Continental Building Products Inc will post 2.04 earnings per share for the current fiscal year.
A number of brokerages have issued reports on CBPX. Stephens set a $41.00 price target on shares of Continental Building Products and gave the company a “hold” rating in a report on Tuesday, August 7th. Raymond James upgraded shares of Continental Building Products from a “market perform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a report on Monday, August 6th. Zacks Investment Research downgraded shares of Continental Building Products from a “hold” rating to a “sell” rating in a report on Friday, November 9th. ValuEngine downgraded shares of Continental Building Products from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Finally, Citigroup reduced their price target on shares of Continental Building Products from $36.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, November 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $35.00.
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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.
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