Assenagon Asset Management S.A. Reduces Stock Holdings in Builders FirstSource, Inc. $BLDR

Assenagon Asset Management S.A. lowered its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 44.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Builders FirstSource during the 2nd quarter worth about $147,994,000. Brave Warrior Advisors LLC purchased a new stake in shares of Builders FirstSource in the first quarter worth about $155,123,000. Voya Investment Management LLC grew its holdings in Builders FirstSource by 29.9% during the first quarter. Voya Investment Management LLC now owns 1,840,171 shares of the company’s stock worth $229,809,000 after acquiring an additional 423,891 shares during the period. Atreides Management LP acquired a new stake in Builders FirstSource during the second quarter worth about $37,592,000. Finally, Coliseum Capital Management LLC raised its position in Builders FirstSource by 75.0% during the first quarter. Coliseum Capital Management LLC now owns 555,041 shares of the company’s stock valued at $69,347,000 after acquiring an additional 237,864 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Price Performance

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

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Thursday, October 30th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.19. Builders FirstSource had a net margin of 3.79% and a return on equity of 21.28%. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the business earned $3.07 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, research analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company began coverage on Builders FirstSource in a research report on Monday, November 17th. They issued an “equal weight” rating and a $115.00 price objective on the stock. Robert W. Baird set a $135.00 target price on shares of Builders FirstSource in a research note on Friday, October 31st. DA Davidson lowered their price target on shares of Builders FirstSource from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Zacks Research raised shares of Builders FirstSource from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 5th. Finally, Barclays decreased their price objective on shares of Builders FirstSource from $124.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, December 8th. Ten investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.07.

Builders FirstSource 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.