William Blair Investment Management LLC decreased its stake in Continental Building Products Inc (NYSE:CBPX) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,008,108 shares of the construction company’s stock after selling 11,364 shares during the quarter. William Blair Investment Management LLC’s holdings in Continental Building Products were worth $28,378,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in Continental Building Products by 154.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,983 shares of the construction company’s stock worth $112,000 after acquiring an additional 2,417 shares during the last quarter. Citadel Advisors LLC acquired a new position in Continental Building Products during the third quarter worth about $235,000. Minerva Advisors LLC acquired a new position in Continental Building Products during the fourth quarter worth about $239,000. Trexquant Investment LP acquired a new position in Continental Building Products during the third quarter worth about $351,000. Finally, Teacher Retirement System of Texas acquired a new position in Continental Building Products during the fourth quarter worth about $379,000.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Continental Building Products from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. SunTrust Banks lowered shares of Continental Building Products from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Barclays upgraded shares of Continental Building Products from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $27.00 to $33.00 in a report on Friday, January 5th. Raymond James Financial assumed coverage on shares of Continental Building Products in a report on Tuesday, March 13th. They issued a “market perform” rating on the stock. Finally, Citigroup decreased their target price on shares of Continental Building Products from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $30.29.
Continental Building Products (NYSE:CBPX) last posted its earnings results on Thursday, February 22nd. The construction company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.08. The company had revenue of $131.39 million for the quarter, compared to analyst estimates of $125.40 million. Continental Building Products had a net margin of 12.23% and a return on equity of 16.58%. Continental Building Products’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. equities research analysts predict that Continental Building Products Inc will post 1.77 earnings per share for the current fiscal year.
Continental Building Products announced that its board has initiated a share repurchase plan on Thursday, February 22nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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Continental Building Products Company Profile
Continental Building Products, Inc is a manufacturer of gypsum wallboard and complementary finishing products. The Company operates through wallboard segment. Gypsum wallboard is a primary building material used in residential and commercial construction and in repair and remodel (R&R). It offers customers a range of gypsum wallboard products, including LiftLite, its lightweight product designed to lift and install; its Mold Defense line of products designed for protection against mold and mildew, and its Weather Defense line of moisture and mold-resistant exterior sheathing.
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