Assenagon Asset Management S.A. Sells 163,285 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Assenagon Asset Management S.A. decreased its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 83.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,373 shares of the company’s stock after selling 163,285 shares during the period. Assenagon Asset Management S.A.’s holdings in Builders FirstSource were worth $4,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC lifted its stake in Builders FirstSource by 7.3% in the 4th quarter. FMR LLC now owns 10,898,366 shares of the company’s stock valued at $1,557,703,000 after purchasing an additional 740,214 shares during the last quarter. Invesco Ltd. lifted its stake in Builders FirstSource by 1.2% in the 4th quarter. Invesco Ltd. now owns 2,253,588 shares of the company’s stock valued at $322,105,000 after purchasing an additional 26,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Builders FirstSource by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company’s stock valued at $319,898,000 after purchasing an additional 77,666 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Builders FirstSource by 47.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company’s stock valued at $277,776,000 after purchasing an additional 623,583 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in Builders FirstSource by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,663,420 shares of the company’s stock valued at $237,753,000 after purchasing an additional 285,458 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Builders FirstSource from $220.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, February 21st. UBS Group decreased their price target on shares of Builders FirstSource from $180.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Loop Capital decreased their price target on shares of Builders FirstSource from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Benchmark decreased their price target on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, Stifel Nicolaus decreased their price target on shares of Builders FirstSource from $125.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.58.

Builders FirstSource Trading Down 3.4%

NYSE:BLDR opened at $111.17 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.80 and a beta of 1.69. The firm has a fifty day simple moving average of $114.76 and a two-hundred day simple moving average of $136.67. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Builders FirstSource had a net margin of 6.57% and a return on equity of 30.54%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the firm earned $2.65 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts expect that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Paul S. Levy purchased 283,517 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the transaction, the director now directly owns 1,672,687 shares of the company’s stock, valued at approximately $186,019,521.27. This trade represents a 20.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dirkson R. Charles purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were purchased at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $548,350. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 505,000 shares of company stock valued at $56,032,120. Corporate insiders own 2.00% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.