JPMorgan Chase & Co. Reduces Stake in Builders FirstSource, Inc. (BLDR)

JPMorgan Chase & Co. cut its position in Builders FirstSource, Inc. (NASDAQ:BLDR) by 70.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 29,732 shares of the company’s stock after selling 71,368 shares during the period. JPMorgan Chase & Co.’s holdings in Builders FirstSource were worth $436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NumerixS Investment Technologies Inc boosted its holdings in Builders FirstSource by 229.8% in the second quarter. NumerixS Investment Technologies Inc now owns 5,600 shares of the company’s stock valued at $101,000 after purchasing an additional 3,902 shares during the period. Engineers Gate Manager LP purchased a new stake in Builders FirstSource during the 3rd quarter worth about $194,000. First Hawaiian Bank purchased a new stake in Builders FirstSource during the 3rd quarter worth about $264,000. Capital Fund Management S.A. lifted its holdings in Builders FirstSource by 63.7% during the 2nd quarter. Capital Fund Management S.A. now owns 25,700 shares of the company’s stock worth $470,000 after buying an additional 10,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Builders FirstSource during the 2nd quarter worth about $500,000. 93.61% of the stock is owned by institutional investors and hedge funds.

Shares of BLDR stock opened at $12.42 on Friday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.45 and a beta of 2.03. Builders FirstSource, Inc. has a 52-week low of $10.15 and a 52-week high of $23.28. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.21 and a current ratio of 2.09.

Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Builders FirstSource had a return on equity of 48.32% and a net margin of 1.44%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, equities research analysts forecast that Builders FirstSource, Inc. will post 1.87 EPS for the current fiscal year.

In related news, COO David E. Rush purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, December 10th. The shares were purchased at an average price of $11.73 per share, for a total transaction of $46,920.00. Following the transaction, the chief operating officer now directly owns 30,390 shares of the company’s stock, valued at approximately $356,474.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Floyd F. Sherman sold 196,512 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $13.78, for a total value of $2,707,935.36. Following the completion of the transaction, the director now owns 478,346 shares in the company, valued at approximately $6,591,607.88. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

A number of brokerages have issued reports on BLDR. Royal Bank of Canada downgraded Builders FirstSource from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $18.00 to $13.00 in a report on Friday. Barclays set a $16.00 target price on Builders FirstSource and gave the stock a “hold” rating in a research report on Monday, November 5th. ValuEngine cut Builders FirstSource from a “sell” rating to a “strong sell” rating in a research report on Friday, September 21st. BidaskClub upgraded Builders FirstSource from a “strong sell” rating to a “sell” rating in a research report on Friday, October 26th. Finally, SunTrust Banks cut their target price on Builders FirstSource to $17.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Builders FirstSource presently has a consensus rating of “Hold” and a consensus target price of $16.82.

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

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