Sapience Investments LLC trimmed its stake in Continental Building Products Inc (NYSE:CBPX) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 304,957 shares of the construction company’s stock after selling 103,650 shares during the quarter. Sapience Investments LLC owned approximately 0.81% of Continental Building Products worth $8,585,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new position in shares of Continental Building Products in the third quarter worth $235,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its holdings in shares of Continental Building Products by 76.7% in the third quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 10,600 shares of the construction company’s stock worth $275,000 after acquiring an additional 4,600 shares during the last quarter. Minerva Advisors LLC acquired a new position in shares of Continental Building Products in the fourth quarter worth $239,000. Teacher Retirement System of Texas acquired a new position in shares of Continental Building Products in the fourth quarter worth $379,000. Finally, Trexquant Investment LP acquired a new position in shares of Continental Building Products in the third quarter worth $351,000.
A number of equities analysts have recently weighed in on CBPX shares. Royal Bank of Canada reissued a “buy” rating and issued a $30.00 price target on shares of Continental Building Products in a report on Wednesday, November 15th. Zacks Investment Research upgraded Continental Building Products from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. SunTrust Banks lowered Continental Building Products from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Jefferies Group started coverage on Continental Building Products in a research note on Tuesday, December 12th. They issued a “hold” rating and a $28.00 target price for the company. Finally, Deutsche Bank upped their target price on Continental Building Products from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.29.
Continental Building Products (NYSE:CBPX) last released its earnings results on Thursday, February 22nd. The construction company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.08. The firm had revenue of $131.39 million during the quarter, compared to analyst estimates of $125.40 million. Continental Building Products had a return on equity of 16.58% and a net margin of 12.23%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. equities analysts predict that Continental Building Products Inc will post 1.69 EPS for the current fiscal year.
Continental Building Products announced that its Board of Directors has approved a stock buyback program on Thursday, February 22nd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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About Continental Building Products
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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