Eagle Asset Management Inc. Has $49.44 Million Stake in Builders FirstSource, Inc. (BLDR)
Eagle Asset Management Inc. boosted its stake in Builders FirstSource, Inc. (NASDAQ:BLDR) by 34.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,227,017 shares of the company’s stock after buying an additional 825,756 shares during the period. Eagle Asset Management Inc. owned 2.87% of Builders FirstSource worth $49,437,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in Builders FirstSource by 68.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock valued at $143,000 after buying an additional 3,861 shares in the last quarter. US Bancorp DE raised its stake in Builders FirstSource by 49.2% in the first quarter. US Bancorp DE now owns 72,231 shares of the company’s stock valued at $1,077,000 after buying an additional 23,811 shares in the last quarter. Globeflex Capital L P purchased a new stake in Builders FirstSource during the first quarter valued at about $1,343,000. Peregrine Capital Management LLC purchased a new stake in Builders FirstSource during the second quarter valued at about $7,059,000. Finally, Wells Fargo & Company MN raised its stake in shares of Builders FirstSource by 24.6% in the first quarter. Wells Fargo & Company MN now owns 281,497 shares of the company’s stock worth $4,194,000 after buying an additional 55,596 shares in the last quarter. Institutional investors and hedge funds own 85.48% of the company’s stock.
Shares of Builders FirstSource, Inc. (BLDR) opened at 16.59 on Friday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 10.98 and a beta of 2.11. The firm has a 50-day moving average of $15.84 and a 200-day moving average of $15.04. Builders FirstSource, Inc. has a 12 month low of $9.04 and a 12 month high of $17.22.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.83 billion. Builders FirstSource had a net margin of 2.60% and a return on equity of 43.83%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, analysts anticipate that Builders FirstSource, Inc. will post $1.12 EPS for the current year.
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A number of analysts have weighed in on BLDR shares. Zacks Investment Research lowered shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. BidaskClub upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Citigroup Inc. raised their target price on shares of Builders FirstSource from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, May 11th. Wedbush restated an “outperform” rating and issued a $20.00 target price (up previously from $19.00) on shares of Builders FirstSource in a research report on Wednesday, May 17th. Finally, FBR & Co restated a “buy” rating and issued a $20.00 target price on shares of Builders FirstSource in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.29.
In other news, CEO Floyd F. Sherman sold 35,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $14.91, for a total value of $521,850.00. Following the completion of the sale, the chief executive officer now owns 633,635 shares of the company’s stock, valued at approximately $9,447,497.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.60% of the stock is currently owned by corporate insiders.
Builders FirstSource Company Profile
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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