Traders Buy Large Volume of Call Options on Cornerstone Building Brands (NYSE:CNR)

Cornerstone Building Brands, Inc. (NYSE:CNR) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 9,711 call options on the stock. This represents an increase of approximately 711% compared to the average volume of 1,198 call options.

Cornerstone Building Brands stock opened at $14.28 on Thursday. The firm has a 50 day simple moving average of $15.68 and a 200-day simple moving average of $16.01. The company has a debt-to-equity ratio of 6.64, a current ratio of 2.18 and a quick ratio of 1.51. The stock has a market capitalization of $1.80 billion, a PE ratio of 46.06 and a beta of 2.10. Cornerstone Building Brands has a 12-month low of $7.25 and a 12-month high of $19.73.

Cornerstone Building Brands (NYSE:CNR) last issued its earnings results on Monday, August 2nd. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.35. The firm had revenue of $1.40 billion during the quarter. Cornerstone Building Brands had a net margin of 0.77% and a return on equity of 30.06%. On average, analysts forecast that Cornerstone Building Brands will post 2.15 earnings per share for the current fiscal year.

In other Cornerstone Building Brands news, CEO James S. Metcalf acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The shares were purchased at an average price of $15.75 per share, for a total transaction of $787,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George L. Ball bought 25,000 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was purchased at an average price of $14.65 per share, with a total value of $366,250.00. Following the transaction, the director now owns 399,209 shares in the company, valued at approximately $5,848,411.85. The disclosure for this purchase can be found here. 1.48% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Rosenberg Matthew Hamilton bought a new stake in Cornerstone Building Brands during the third quarter worth approximately $37,000. Parametric Portfolio Associates LLC lifted its position in shares of Cornerstone Building Brands by 4.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 76,457 shares of the company’s stock valued at $1,390,000 after acquiring an additional 3,432 shares in the last quarter. Walleye Capital LLC lifted its position in shares of Cornerstone Building Brands by 124.7% in the 2nd quarter. Walleye Capital LLC now owns 34,424 shares of the company’s stock valued at $626,000 after acquiring an additional 19,105 shares in the last quarter. KB Financial Partners LLC purchased a new stake in shares of Cornerstone Building Brands in the 2nd quarter valued at approximately $233,000. Finally, Invesco Ltd. lifted its position in shares of Cornerstone Building Brands by 645.7% in the 2nd quarter. Invesco Ltd. now owns 989,679 shares of the company’s stock valued at $17,993,000 after acquiring an additional 856,964 shares in the last quarter. Hedge funds and other institutional investors own 94.79% of the company’s stock.

CNR has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Cornerstone Building Brands from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 5th. Royal Bank of Canada upgraded shares of Cornerstone Building Brands to an “outperform” rating in a report on Friday, September 17th. Finally, TD Securities upgraded shares of Cornerstone Building Brands to a “buy” rating in a report on Monday, September 20th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $18.67.

About Cornerstone Building Brands

Cornerstone Building Brands, Inc engages in the design, engineer and manufacture external building products. It operates through the following segments: Commercial, Siding, and Windows. The Commercial segment produces and distributes metal products for the nonresidential construction market. The Siding segment comprises of vinyl siding and skirting, steel siding, vinyl and aluminum soffit, aluminum trim coil, aluminum gutter coil, aluminum gutters, aluminum and steel roofing accessories, wide crown molding, window and door trim, fascia, undersill trims, outside and inside corner posts, rain removal systems, and injection molded designer accents.

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