The BlackRock Advisors LLC Reduced the position of Continental Building Products Inc. (CBPX)

The BlackRock Advisors LLC Reduced the position of Continental Building Products Inc. (CBPX)

BlackRock Advisors LLC decreased its position in shares of Continental Building Products Inc. (NYSE:CBPX) by 34.0% during the second quarter, Holdings Channel reports. The fund owned 356,525 shares of the company’s stock after selling 183,457 shares during the period. BlackRock Advisors LLC owned about 0.88% of Continental Building Products worth $7,926,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of CBPX. Pacad Investment Ltd. bought a new stake in Continental Building Products during the first quarter worth about $218,000. TIAA CREF Investment Management LLC increased its stake in Continental Building Products by 4.1% in the first quarter. TIAA CREF Investment Management LLC now owns 228,775 shares of the company’s stock worth $4,246,000 after buying an additional 8,960 shares during the last quarter. Prudential Financial Inc. increased its stake in Continental Building Products by 22.0% in the first quarter. Prudential Financial Inc. now owns 680,120 shares of the company’s stock worth $12,623,000 after buying an additional 122,520 shares during the last quarter. BlackRock Group LTD increased its stake in Continental Building Products by 3.7% in the first quarter. BlackRock Group LTD now owns 67,241 shares of the company’s stock worth $1,247,000 after buying an additional 2,371 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Continental Building Products by 11.2% in the first quarter. JPMorgan Chase & Co. now owns 232,814 shares of the company’s stock worth $4,321,000 after buying an additional 23,434 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.

Shares of Continental Building Products Inc. (NYSE:CBPX) opened at 20.06 on Wednesday. The stock has a market capitalization of $811.37 million, a PE ratio of 20.94 and a beta of 1.26. The firm has a 50-day moving average of $21.57 and a 200 day moving average of $21.55. Continental Building Products Inc. has a 1-year low of $13.25 and a 1-year high of $24.78.

Continental Building Products (NYSE:CBPX) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. Continental Building Products had a net margin of 8.96% and a return on equity of 15.47%. The company earned $117.10 million during the quarter, compared to analysts’ expectations of $113.27 million. During the same quarter in the previous year, the company earned $0.23 EPS. Continental Building Products’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Continental Building Products Inc. will post $1.20 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on CBPX shares. Credit Suisse Group AG reiterated a “buy” rating and set a $23.00 price target on shares of Continental Building Products in a research report on Wednesday, June 29th. Zacks Investment Research downgraded shares of Continental Building Products from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Citigroup Inc. lifted their price target on shares of Continental Building Products from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, August 4th. Deutsche Bank AG lifted their price target on shares of Continental Building Products from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, August 9th. Finally, TheStreet downgraded shares of Continental Building Products from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Continental Building Products has a consensus rating of “Buy” and a consensus target price of $23.13.

About Continental Building Products

Continental Building Products, Inc is a manufacturer of gypsum wallboard and complementary finishing products. The Company’s segment is wallboard. The Company’s manufacturing facilities and sales efforts are concentrated in the eastern United States and eastern Canada. Gypsum wallboard is a primary building material used in new residential and commercial construction and in repair and remodel (R&R).

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