Highbridge Capital Management LLC bought a new position in Builders FirstSource, Inc. (NASDAQ:BLDR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,220 shares of the company’s stock, valued at approximately $719,000.
A number of other institutional investors have also recently made changes to their positions in the business. Millennium Management LLC bought a new position in Builders FirstSource in the first quarter worth about $15,212,000. Soapstone Management L.P. raised its holdings in Builders FirstSource by 20.2% in the first quarter. Soapstone Management L.P. now owns 1,280,606 shares of the company’s stock worth $25,407,000 after purchasing an additional 215,650 shares in the last quarter. Verition Fund Management LLC bought a new position in Builders FirstSource in the first quarter worth about $280,000. Hilltop Holdings Inc. bought a new position in Builders FirstSource in the first quarter worth about $203,000. Finally, Sciencast Management LP bought a new position in Builders FirstSource in the first quarter worth about $260,000. Institutional investors and hedge funds own 92.67% of the company’s stock.
A number of equities analysts have commented on BLDR shares. Wedbush reiterated an “outperform” rating and issued a $30.00 target price on shares of Builders FirstSource in a report on Thursday, March 1st. Stifel Nicolaus restated a “buy” rating on shares of Builders FirstSource in a report on Friday, March 2nd. BidaskClub downgraded shares of Builders FirstSource from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. Zacks Investment Research downgraded shares of Builders FirstSource from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 4th. Finally, ValuEngine downgraded shares of Builders FirstSource from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $23.14.
In related news, Director Floyd F. Sherman sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $20.21, for a total value of $1,010,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brett N. Milgrim sold 34,930 shares of the company’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $19.57, for a total value of $683,580.10. Following the completion of the sale, the director now owns 60,265 shares in the company, valued at approximately $1,179,386.05. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
Builders FirstSource opened at $18.45 on Friday, according to MarketBeat. Builders FirstSource, Inc. has a 52-week low of $14.39 and a 52-week high of $23.28. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.15 and a current ratio of 2.09. The stock has a market cap of $2.18 billion, a PE ratio of 13.59 and a beta of 2.06.
Builders FirstSource (NASDAQ:BLDR) last posted its quarterly earnings data on Wednesday, May 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.69 billion. Builders FirstSource had a net margin of 0.81% and a return on equity of 41.83%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. analysts anticipate that Builders FirstSource, Inc. will post 1.87 earnings per share for the current fiscal year.
Builders FirstSource Profile
Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. Its products include lumber and lumber sheet goods comprising dimensional lumber, plywood, and OSB products that are used in on-site house framing; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand.
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