Stock Traders Purchase High Volume of Put Options on Foundation Building Materials (NYSE:FBM)

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Foundation Building Materials Inc (NYSE:FBM) was the target of unusually large options trading on Thursday. Stock investors purchased 4,806 put options on the company. This represents an increase of 1,039% compared to the typical daily volume of 422 put options.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Foundation Building Materials by 65.8% in the second quarter. BlackRock Inc. now owns 1,495,052 shares of the company’s stock worth $26,583,000 after buying an additional 593,221 shares during the period. Renaissance Technologies LLC boosted its position in shares of Foundation Building Materials by 736.5% in the second quarter. Renaissance Technologies LLC now owns 536,188 shares of the company’s stock worth $9,533,000 after buying an additional 472,088 shares during the period. Acadian Asset Management LLC boosted its position in shares of Foundation Building Materials by 42.5% in the second quarter. Acadian Asset Management LLC now owns 399,638 shares of the company’s stock worth $7,106,000 after buying an additional 119,156 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Foundation Building Materials in the second quarter worth $6,105,000. Finally, Boston Partners boosted its position in shares of Foundation Building Materials by 3.5% in the first quarter. Boston Partners now owns 209,314 shares of the company’s stock worth $2,060,000 after buying an additional 7,125 shares during the period. Institutional investors and hedge funds own 90.35% of the company’s stock.

Shares of NYSE FBM traded down $0.25 during mid-day trading on Friday, reaching $18.26. The company had a trading volume of 136,101 shares, compared to its average volume of 189,695. The company has a current ratio of 1.98, a quick ratio of 1.38 and a debt-to-equity ratio of 1.74. The stock has a market cap of $775.08 million, a PE ratio of 52.23 and a beta of 1.46. The company has a 50-day moving average price of $17.50 and a two-hundred day moving average price of $14.74. Foundation Building Materials has a 1-year low of $7.62 and a 1-year high of $19.74.

Foundation Building Materials (NYSE:FBM) last issued its earnings results on Monday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.12. The business had revenue of $559.91 million for the quarter, compared to analysts’ expectations of $574.68 million. Foundation Building Materials had a return on equity of 9.30% and a net margin of 0.08%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. On average, research analysts expect that Foundation Building Materials will post 0.85 EPS for the current year.

Separately, Zacks Investment Research cut Foundation Building Materials from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.33.

Foundation Building Materials Company Profile

Foundation Building Materials, Inc distributes building products in the United States and Canada. It offers wallboard, suspended ceiling system, and metal framing products. The company also provides complementary and other products, tools, and accessories, such as wallboard accessories, stucco and finishing systems, safety accessories, fasteners, insulations, doors, and roofing products.

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