According to Zacks, “Cornerstone Building Brands Inc. is the manufacturer of exterior building products primarily in North America. The company manufactures windows, vinyl siding, insulated metal panels, metal roofing and wall systems and metal accessories. Cornerstone Building Brands Inc., formerly known as NCI Building Systems Inc., is headquartered in Cary, North Carolina. “
A number of other brokerages have also recently issued reports on CNR. Barclays increased their target price on shares of Cornerstone Building Brands from $10.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Friday, March 5th. Cowen cut shares of Cornerstone Building Brands to a “market perform” rating in a research report on Wednesday, January 27th.
Cornerstone Building Brands stock traded down $0.20 during mid-day trading on Tuesday, reaching $14.60. The company had a trading volume of 470,365 shares, compared to its average volume of 816,638. Cornerstone Building Brands has a 52 week low of $3.60 and a 52 week high of $15.62. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -3.81 and a beta of 2.26. The company has a quick ratio of 1.91, a current ratio of 2.49 and a debt-to-equity ratio of 8.49. The company has a 50 day moving average of $13.83 and a 200-day moving average of $11.33.
Cornerstone Building Brands (NYSE:CNR) last announced its quarterly earnings data on Tuesday, March 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.09). Cornerstone Building Brands had a negative net margin of 10.35% and a negative return on equity of 10.54%. The business had revenue of $1.19 billion during the quarter. On average, analysts predict that Cornerstone Building Brands will post -0.38 earnings per share for the current fiscal year.
In other news, major shareholder Opportunity Fund Managemen Ggc sold 4,250,000 shares of the firm’s stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $10.63, for a total value of $45,177,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathleen J. Affeldt sold 19,500 shares of the firm’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $14.74, for a total transaction of $287,430.00. Following the completion of the transaction, the director now directly owns 60,515 shares in the company, valued at approximately $891,991.10. The disclosure for this sale can be found here. Insiders sold a total of 5,385,475 shares of company stock valued at $58,881,833 in the last 90 days. Corporate insiders own 1.41% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Cornerstone Building Brands by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 29,380 shares of the company’s stock valued at $273,000 after purchasing an additional 1,280 shares during the last quarter. AEGON USA Investment Management LLC grew its holdings in Cornerstone Building Brands by 4.9% during the first quarter. AEGON USA Investment Management LLC now owns 43,739 shares of the company’s stock valued at $614,000 after purchasing an additional 2,034 shares during the period. Zacks Investment Management grew its holdings in Cornerstone Building Brands by 15.4% during the fourth quarter. Zacks Investment Management now owns 15,325 shares of the company’s stock valued at $142,000 after purchasing an additional 2,048 shares during the period. Hsbc Holdings PLC grew its holdings in Cornerstone Building Brands by 9.1% during the fourth quarter. Hsbc Holdings PLC now owns 30,063 shares of the company’s stock valued at $282,000 after purchasing an additional 2,507 shares during the period. Finally, Financial Enhancement Group LLC acquired a new position in Cornerstone Building Brands during the fourth quarter valued at approximately $27,000. 89.54% of the stock is currently owned by institutional investors.
About Cornerstone Building Brands
Cornerstone Building Brands, Inc, together with its subsidiaries, designs, engineers, manufactures, markets, and installs external building products for the commercial, residential, and repair and remodel markets in the United States, Canada, Mexico, and internationally. The company operates through three segments: Windows, Siding, and Commercial.
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