Builders FirstSource, Inc. (NASDAQ:BLDR) Sees Significant Increase in Short Interest
Builders FirstSource, Inc. (NASDAQ:BLDR) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,972,100 shares, a growth of 18.1% from the June 30th total of 2,517,400 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.7% of the company’s shares are sold short.
BLDR traded down $0.51 on Wednesday, reaching $18.70. The company’s stock had a trading volume of 63,537 shares, compared to its average volume of 1,017,916. The firm has a market cap of $2.22 billion, a PE ratio of 9.90 and a beta of 2.03. Builders FirstSource has a 1 year low of $10.15 and a 1 year high of $20.30. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.96 and a current ratio of 1.69. The firm has a 50 day moving average of $17.41.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Builders FirstSource had a return on equity of 39.63% and a net margin of 3.05%. Builders FirstSource’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 earnings per share. Research analysts anticipate that Builders FirstSource will post 1.81 earnings per share for the current year.
In other news, COO David E. Rush sold 2,351 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $19.48, for a total value of $45,797.48. Following the completion of the sale, the chief operating officer now owns 42,886 shares in the company, valued at $835,419.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert C. Griffin sold 11,133 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $15.08, for a total value of $167,885.64. Following the completion of the sale, the director now owns 36,852 shares of the company’s stock, valued at approximately $555,728.16. The disclosure for this sale can be found here. Insiders have sold 238,677 shares of company stock valued at $4,551,135 over the last 90 days. 2.20% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Builders FirstSource by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 11,238,263 shares of the company’s stock worth $189,477,000 after buying an additional 828,343 shares during the last quarter. BlackRock Inc. lifted its holdings in Builders FirstSource by 3.8% during the 2nd quarter. BlackRock Inc. now owns 8,462,144 shares of the company’s stock worth $142,670,000 after buying an additional 311,490 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Builders FirstSource by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,542,510 shares of the company’s stock worth $38,649,000 after buying an additional 182,727 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Builders FirstSource by 84.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,768,800 shares of the company’s stock worth $29,822,000 after buying an additional 807,400 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Builders FirstSource by 5,299.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,730,830 shares of the company’s stock worth $28,126,000 after buying an additional 1,698,775 shares during the last quarter. 90.22% of the stock is currently owned by institutional investors.
About Builders FirstSource
Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. 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, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand name.
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