Convergence Investment Partners LLC Reduces Position in Builders FirstSource, Inc. (BLDR)

Convergence Investment Partners LLC cut its stake in Builders FirstSource, Inc. (NASDAQ:BLDR) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,924 shares of the company’s stock after selling 32,519 shares during the quarter. Convergence Investment Partners LLC owned 0.06% of Builders FirstSource worth $1,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BLDR. Cubist Systematic Strategies LLC purchased a new stake in shares of Builders FirstSource in the third quarter worth approximately $110,000. SG Americas Securities LLC purchased a new stake in shares of Builders FirstSource in the second quarter worth approximately $114,000. Ameritas Investment Partners Inc. raised its stake in shares of Builders FirstSource by 17.3% in the second quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock worth $130,000 after purchasing an additional 1,253 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Builders FirstSource by 10,237.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock worth $131,000 after purchasing an additional 8,497 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Builders FirstSource in the third quarter worth approximately $147,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently commented on the company. B. Riley reissued a “buy” rating on shares of Builders FirstSource in a research note on Wednesday, November 1st. Stephens reissued a “buy” rating and issued a $27.00 price objective on shares of Builders FirstSource in a research note on Wednesday. Wedbush set a $30.00 price objective on Builders FirstSource and gave the stock an “outperform” rating in a research note on Friday, January 12th. BidaskClub raised Builders FirstSource from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Finally, ValuEngine raised Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $23.00.

Builders FirstSource, Inc. (NASDAQ:BLDR) opened at $22.79 on Thursday. The stock has a market capitalization of $2,501.65, a P/E ratio of 29.99 and a beta of 2.16. The company has a quick ratio of 1.06, a current ratio of 1.86 and a debt-to-equity ratio of 4.46. Builders FirstSource, Inc. has a twelve month low of $10.56 and a twelve month high of $23.15.

Builders FirstSource (NASDAQ:BLDR) last released its earnings results on Wednesday, November 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Builders FirstSource had a return on equity of 33.66% and a net margin of 1.29%. Builders FirstSource’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. analysts anticipate that Builders FirstSource, Inc. will post 1.03 EPS for the current year.

In other news, SVP Donald F. Mcaleenan sold 166,714 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $18.16, for a total value of $3,027,526.24. Following the completion of the transaction, the senior vice president now directly owns 179,805 shares of the company’s stock, valued at $3,265,258.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter M. Jackson sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $20.51, for a total value of $256,375.00. Following the completion of the transaction, the chief financial officer now directly owns 26,587 shares of the company’s stock, valued at $545,299.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 377,598 shares of company stock valued at $6,950,025. 14.60% of the stock is currently owned by corporate insiders.

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About Builders FirstSource

Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.

Institutional Ownership by Quarter for Builders FirstSource (NASDAQ:BLDR)

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