California Public Employees Retirement System Raises Position in Continental Building Products Inc (CBPX)

California Public Employees Retirement System increased its stake in Continental Building Products Inc (NYSE:CBPX) by 60.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,691 shares of the construction company’s stock after acquiring an additional 23,911 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Continental Building Products worth $1,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CBPX. LPL Financial LLC boosted its position in shares of Continental Building Products by 20.3% in the fourth quarter. LPL Financial LLC now owns 14,932 shares of the construction company’s stock worth $380,000 after buying an additional 2,520 shares during the period. Boston Partners boosted its position in shares of Continental Building Products by 2.0% in the fourth quarter. Boston Partners now owns 138,023 shares of the construction company’s stock worth $3,513,000 after buying an additional 2,745 shares during the period. Dupont Capital Management Corp boosted its position in shares of Continental Building Products by 35.1% in the fourth quarter. Dupont Capital Management Corp now owns 13,394 shares of the construction company’s stock worth $341,000 after buying an additional 3,478 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Continental Building Products in the fourth quarter worth $119,000. Finally, Bank of Montreal Can boosted its position in shares of Continental Building Products by 153.3% in the fourth quarter. Bank of Montreal Can now owns 7,968 shares of the construction company’s stock worth $203,000 after buying an additional 4,822 shares during the period.

In other Continental Building Products news, CFO Dennis Charles Schemm sold 1,569 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $25.43, for a total value of $39,899.67. Following the completion of the sale, the chief financial officer now owns 56,157 shares of the company’s stock, valued at $1,428,072.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is owned by insiders.

Several brokerages have recently commented on CBPX. Zacks Investment Research raised Continental Building Products from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, January 8th. ValuEngine raised Continental Building Products from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Raymond James cut Continental Building Products from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, January 23rd. Seaport Global Securities reissued a “neutral” rating on shares of Continental Building Products in a research report on Monday, February 25th. Finally, Royal Bank of Canada cut Continental Building Products from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $30.00 to $26.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Continental Building Products presently has a consensus rating of “Hold” and an average target price of $31.78.

CBPX traded up $0.23 during trading on Friday, reaching $24.93. 240,960 shares of the stock traded hands, compared to its average volume of 279,890. The stock has a market cap of $878.88 million, a price-to-earnings ratio of 12.34, a PEG ratio of 2.36 and a beta of 1.35. Continental Building Products Inc has a fifty-two week low of $23.09 and a fifty-two week high of $39.60. The company has a current ratio of 3.09, a quick ratio of 2.57 and a debt-to-equity ratio of 0.80.

Continental Building Products (NYSE:CBPX) last released its quarterly earnings data on Thursday, February 21st. The construction company reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. Continental Building Products had a return on equity of 22.50% and a net margin of 14.06%. The firm had revenue of $140.76 million during the quarter, compared to analysts’ expectations of $138.07 million. As a group, sell-side analysts forecast that Continental Building Products Inc will post 2.12 earnings per share for the current fiscal year.

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Continental Building Products Profile

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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Institutional Ownership by Quarter for Continental Building Products (NYSE:CBPX)

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