Assenagon Asset Management S.A. Has $12.16 Million Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Assenagon Asset Management S.A. lessened its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 81.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 62,745 shares of the company’s stock after selling 282,771 shares during the period. Assenagon Asset Management S.A.’s holdings in Builders FirstSource were worth $12,164,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Builders FirstSource during the second quarter valued at $27,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource in the 3rd quarter valued at about $30,000. Westside Investment Management Inc. acquired a new stake in shares of Builders FirstSource during the 1st quarter worth approximately $31,000. ORG Partners LLC bought a new stake in shares of Builders FirstSource during the first quarter worth approximately $33,000. Finally, First Horizon Advisors Inc. boosted its stake in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $180.80 on Monday. Builders FirstSource, Inc. has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The business has a 50-day moving average of $183.91 and a 200-day moving average of $168.79.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.89 EPS. As a group, sell-side analysts predict that Builders FirstSource, Inc. will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Benchmark cut their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Barclays upped their price target on Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Oppenheimer lifted their price target on shares of Builders FirstSource from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Loop Capital raised their price objective on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Finally, Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Builders FirstSource currently has an average rating of “Moderate Buy” and an average price target of $200.35.

Builders FirstSource Company Profile

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.