Schwab Charles Investment Management Inc. raised its stake in Continental Building Products Inc (NYSE:CBPX) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 215,244 shares of the construction company’s stock after acquiring an additional 5,050 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.57% of Continental Building Products worth $6,060,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBPX. Point72 Asset Management L.P. purchased a new stake in shares of Continental Building Products in the third quarter worth $7,223,000. Brown Advisory Inc. grew its stake in shares of Continental Building Products by 18.2% in the third quarter. Brown Advisory Inc. now owns 1,720,709 shares of the construction company’s stock worth $44,738,000 after acquiring an additional 265,383 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Continental Building Products by 9.4% in the third quarter. Macquarie Group Ltd. now owns 2,097,989 shares of the construction company’s stock worth $54,548,000 after acquiring an additional 180,218 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Continental Building Products by 35.3% in the third quarter. Ameriprise Financial Inc. now owns 469,209 shares of the construction company’s stock worth $12,201,000 after acquiring an additional 122,474 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Continental Building Products in the third quarter worth $2,625,000.
Shares of Continental Building Products Inc (NYSE CBPX) opened at $28.15 on Tuesday. The company has a current ratio of 3.32, a quick ratio of 2.76 and a debt-to-equity ratio of 0.83. Continental Building Products Inc has a 12-month low of $21.00 and a 12-month high of $31.00. The company has a market capitalization of $1,040.86, a price-to-earnings ratio of 20.75 and a beta of 1.20.
Continental Building Products announced that its board has approved a stock repurchase plan on Thursday, February 22nd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Continental Building Products from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Jefferies Group assumed coverage on Continental Building Products in a research report on Tuesday, December 12th. They set a “hold” rating and a $28.00 price objective on the stock. Citigroup dropped their price objective on Continental Building Products from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Deutsche Bank increased their price objective on Continental Building Products from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $30.00 price objective on shares of Continental Building Products in a research report on Wednesday, November 15th. Four equities research 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 has an average rating of “Buy” and a consensus target price of $30.29.
ILLEGAL ACTIVITY NOTICE: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/03/13/schwab-charles-investment-management-inc-buys-5050-shares-of-continental-building-products-inc-cbpx.html.
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.
Want to see what other hedge funds are holding CBPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Continental Building Products Inc (NYSE:CBPX).
Receive News & Ratings for Continental Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Building Products and related companies with MarketBeat.com's FREE daily email newsletter.