Assetmark Inc. Sells 572,885 Shares of Builders FirstSource, Inc. $BLDR

Assetmark Inc. cut its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 96.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,319 shares of the company’s stock after selling 572,885 shares during the quarter. Assetmark Inc.’s holdings in Builders FirstSource were worth $1,673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cromwell Holdings LLC boosted its position in Builders FirstSource by 1,323.5% during the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company’s stock valued at $25,000 after acquiring an additional 225 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Builders FirstSource by 167.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock valued at $26,000 after purchasing an additional 132 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Builders FirstSource by 43.6% during the first quarter. Root Financial Partners LLC now owns 372 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Transamerica Financial Advisors LLC grew its stake in Builders FirstSource by 90.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new stake in Builders FirstSource in the second quarter worth $38,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BLDR shares. Jefferies Financial Group lowered their price objective on Builders FirstSource from $85.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Benchmark reduced their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial decreased their price target on shares of Builders FirstSource from $145.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Bank of America lowered their price target on shares of Builders FirstSource from $123.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Finally, Stifel Nicolaus dropped their price objective on shares of Builders FirstSource from $76.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.35.

Builders FirstSource Price Performance

NYSE BLDR opened at $72.89 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. Builders FirstSource, Inc. has a 12 month low of $65.10 and a 12 month high of $151.03. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.68 and a beta of 1.42. The company’s 50 day moving average is $77.11 and its two-hundred day moving average is $91.34.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.17 billion. Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 earnings per share. As a group, research analysts anticipate that Builders FirstSource, Inc. will post 4.29 earnings per share for the current year.

Builders FirstSource declared that its board has authorized a stock repurchase plan on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

About Builders FirstSource

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.