Stone Ridge Asset Management LLC Sells 2,467 Shares of Continental Building Products Inc (NYSE:CBPX)

Stone Ridge Asset Management LLC reduced its holdings in Continental Building Products Inc (NYSE:CBPX) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,604 shares of the construction company’s stock after selling 2,467 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Continental Building Products were worth $372,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CBPX. Clearbridge Investments LLC increased its holdings in shares of Continental Building Products by 951,920.0% in the third quarter. Clearbridge Investments LLC now owns 476,010 shares of the construction company’s stock worth $17,874,000 after acquiring an additional 475,960 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Continental Building Products during the third quarter worth about $15,789,000. Teachers Advisors LLC boosted its position in shares of Continental Building Products by 552.9% during the third quarter. Teachers Advisors LLC now owns 480,271 shares of the construction company’s stock worth $18,034,000 after buying an additional 406,710 shares during the period. Renaissance Technologies LLC boosted its position in shares of Continental Building Products by 74.5% during the third quarter. Renaissance Technologies LLC now owns 845,072 shares of the construction company’s stock worth $31,732,000 after buying an additional 360,672 shares during the period. Finally, Federated Investors Inc. PA boosted its position in shares of Continental Building Products by 15,441.4% during the third quarter. Federated Investors Inc. PA now owns 333,519 shares of the construction company’s stock worth $12,523,000 after buying an additional 331,373 shares during the period.

In related news, CFO Dennis Charles Schemm sold 1,387 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $26.14, for a total transaction of $36,256.18. Following the completion of the transaction, the chief financial officer now directly owns 57,726 shares of the company’s stock, valued at $1,508,957.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.78% of the company’s stock.

Shares of CBPX stock traded up $0.23 on Friday, hitting $24.93. 240,960 shares of the stock were exchanged, compared to its average volume of 279,890. 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 debt-to-equity ratio of 0.80, a current ratio of 3.09 and a quick ratio of 2.57. The stock has a market capitalization of $878.88 million, a P/E ratio of 12.34, a P/E/G ratio of 2.36 and a beta of 1.35.

Continental Building Products (NYSE:CBPX) last issued its quarterly earnings results on Thursday, February 21st. The construction company reported $0.56 EPS for the quarter, meeting the consensus estimate 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. Equities analysts expect that Continental Building Products Inc will post 2.12 EPS for the current year.

CBPX has been the subject of several recent research reports. Stephens reaffirmed a “hold” rating and set a $28.00 price objective on shares of Continental Building Products in a research report on Sunday, January 27th. Zacks Investment Research raised Continental Building Products from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. ValuEngine cut Continental Building Products from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th. Royal Bank of Canada cut Continental Building Products from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $30.00 to $26.00 in a research report on Wednesday. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Continental Building Products in a research report on Monday, February 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.78.

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Continental Building Products Company 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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