Millennium Management LLC Grows Stock Position in Continental Building Products Inc (NYSE:CBPX)

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Millennium Management LLC lifted its stake in Continental Building Products Inc (NYSE:CBPX) by 638.0% in the third quarter, HoldingsChannel reports. The firm owned 1,031,347 shares of the construction company’s stock after acquiring an additional 891,598 shares during the quarter. Millennium Management LLC’s holdings in Continental Building Products were worth $28,145,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Systematic Financial Management LP raised its stake in Continental Building Products by 1.7% in the third quarter. Systematic Financial Management LP now owns 1,091,371 shares of the construction company’s stock valued at $29,784,000 after buying an additional 17,985 shares in the last quarter. Aperio Group LLC acquired a new stake in Continental Building Products in the second quarter valued at $76,000. California Public Employees Retirement System increased its position in shares of Continental Building Products by 12.7% during the third quarter. California Public Employees Retirement System now owns 97,348 shares of the construction company’s stock worth $2,657,000 after purchasing an additional 10,985 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Continental Building Products by 35.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 186,625 shares of the construction company’s stock worth $4,959,000 after purchasing an additional 49,100 shares in the last quarter. Finally, Brinker Capital Inc. increased its position in shares of Continental Building Products by 10.7% during the third quarter. Brinker Capital Inc. now owns 46,428 shares of the construction company’s stock worth $1,267,000 after purchasing an additional 4,480 shares in the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.

A number of analysts have recently commented on CBPX shares. Barclays cut Continental Building Products to a “hold” rating and set a $37.00 target price on the stock. in a research report on Wednesday, November 13th. Exane BNP Paribas started coverage on Continental Building Products in a research report on Wednesday, October 9th. They set an “outperform” rating on the stock. ValuEngine upgraded Continental Building Products from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their target price on Continental Building Products to $37.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 13th. Finally, SunTrust Banks lifted their target price on Continental Building Products to $37.00 and gave the stock a “positive” rating in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Continental Building Products currently has a consensus rating of “Buy” and a consensus target price of $36.00.

CBPX opened at $36.79 on Monday. The business’s 50-day simple moving average is $31.88 and its 200-day simple moving average is $26.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.80 and a current ratio of 4.56. Continental Building Products Inc has a one year low of $21.35 and a one year high of $37.04. The stock has a market capitalization of $1.28 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 4.42 and a beta of 1.36.

Continental Building Products (NYSE:CBPX) last posted its earnings results on Tuesday, November 12th. The construction company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. Continental Building Products had a return on equity of 18.84% and a net margin of 12.12%. The business had revenue of $127.40 million for the quarter, compared to analysts’ expectations of $127.16 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Continental Building Products Inc will post 1.66 EPS for the current fiscal year.

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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