Stock Traders Purchase High Volume of Put Options on Foundation Building Materials (NYSE:FBM)

Foundation Building Materials Inc (NYSE:FBM) was the recipient of some unusual options trading on Thursday. Stock investors bought 4,806 put options on the company. This is an increase of approximately 1,039% compared to the average daily volume of 422 put options.

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Foundation Building Materials during the 2nd quarter worth approximately $26,000. Quantamental Technologies LLC bought a new position in Foundation Building Materials during the 2nd quarter worth approximately $36,000. Aperio Group LLC bought a new position in Foundation Building Materials during the 2nd quarter worth approximately $38,000. BNP Paribas Arbitrage SA lifted its holdings 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 buying an additional 2,686 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Foundation Building Materials by 2,986.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 9,907 shares of the company’s stock worth $177,000 after purchasing an additional 9,586 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research downgraded Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Foundation Building Materials presently has an average rating of “Hold” and an average target price of $14.33.

FBM traded down $0.25 on Friday, reaching $18.26. The company’s stock had a trading volume of 136,101 shares, compared to its average volume of 189,695. The stock has a market cap of $775.08 million, a price-to-earnings ratio of 52.23 and a beta of 1.46. Foundation Building Materials has a 1 year low of $7.62 and a 1 year high of $19.74. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.98 and a quick ratio of 1.38. The business’s 50 day moving average is $17.50 and its 200 day moving average is $14.74.

Foundation Building Materials (NYSE:FBM) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. Foundation Building Materials had a return on equity of 9.30% and a net margin of 0.08%. The firm had revenue of $559.91 million during the quarter, compared to the consensus estimate of $574.68 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Foundation Building Materials’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Foundation Building Materials will post 0.85 earnings per share for the current fiscal 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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