Assenagon Asset Management S.A. Trims Stake in Builders FirstSource, Inc. $BLDR

Assenagon Asset Management S.A. cut its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 44.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,478 shares of the company’s stock after selling 7,452 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Builders FirstSource were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Builders FirstSource by 0.6% during the 2nd quarter. State Street Corp now owns 5,026,553 shares of the company’s stock worth $586,548,000 after acquiring an additional 29,443 shares in the last quarter. Voya Investment Management LLC grew its stake in Builders FirstSource by 29.9% during the 1st quarter. Voya Investment Management LLC now owns 1,840,171 shares of the company’s stock worth $229,809,000 after buying an additional 423,891 shares during the last quarter. Brave Warrior Advisors LLC raised its holdings in shares of Builders FirstSource by 47.2% in the second quarter. Brave Warrior Advisors LLC now owns 1,827,261 shares of the company’s stock valued at $213,223,000 after buying an additional 585,683 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Builders FirstSource by 5.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,556,151 shares of the company’s stock valued at $181,587,000 after purchasing an additional 74,681 shares during the period. Finally, Norges Bank purchased a new stake in shares of Builders FirstSource in the second quarter valued at about $147,994,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

BLDR has been the subject of several recent analyst reports. Loop Capital reduced their price objective on shares of Builders FirstSource from $145.00 to $140.00 in a research note on Friday, October 31st. Wall Street Zen raised shares of Builders FirstSource from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Stifel Nicolaus cut their target price on shares of Builders FirstSource from $124.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, December 16th. Wedbush reaffirmed a “neutral” rating and set a $145.00 price target on shares of Builders FirstSource in a report on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Builders FirstSource from $134.00 to $131.00 and set a “hold” rating for the company in a report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $135.07.

Builders FirstSource Price Performance

Shares of BLDR opened at $103.63 on Thursday. Builders FirstSource, Inc. has a 12 month low of $94.35 and a 12 month high of $175.12. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.79 and a quick ratio of 1.15. The company has a market cap of $11.46 billion, a P/E ratio of 19.74, a PEG ratio of 10.92 and a beta of 1.56. The stock has a fifty day moving average price of $109.93 and a 200 day moving average price of $122.17.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.19. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Builders FirstSource had a return on equity of 21.28% and a net margin of 3.79%.The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.07 earnings per share. On average, research analysts forecast that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource Company Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.