Raging Capital Management LLC reduced its position in shares of Builders FirstSource, Inc. (NASDAQ:BLDR) by 52.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,848,000 shares of the company’s stock after selling 4,290,937 shares during the period. Builders FirstSource accounts for about 5.9% of Raging Capital Management LLC’s portfolio, making the stock its 2nd largest position. Raging Capital Management LLC owned approximately 3.42% of Builders FirstSource worth $57,335,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in BLDR. Perritt Capital Management Inc. boosted its stake in Builders FirstSource by 6.7% in the fourth quarter. Perritt Capital Management Inc. now owns 12,800 shares of the company’s stock worth $140,000 after buying an additional 800 shares during the last quarter. 1st Global Advisors Inc. boosted its stake in Builders FirstSource by 17.0% in the first quarter. 1st Global Advisors Inc. now owns 13,557 shares of the company’s stock valued at $202,000 after buying an additional 1,971 shares during the last quarter. National Investment Services Inc. WI boosted its stake in Builders FirstSource by 17.9% in the first quarter. National Investment Services Inc. WI now owns 14,950 shares of the company’s stock valued at $223,000 after buying an additional 2,266 shares during the last quarter. American International Group Inc. boosted its stake in Builders FirstSource by 7.1% in the first quarter. American International Group Inc. now owns 51,644 shares of the company’s stock valued at $769,000 after buying an additional 3,417 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted 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 during the last quarter. 85.83% of the stock is owned by institutional investors.
Builders FirstSource, Inc. (BLDR) traded down 0.33% during mid-day trading on Friday, reaching $15.31. The company had a trading volume of 1,134,244 shares. The stock has a market capitalization of $1.72 billion, a PE ratio of 10.70 and a beta of 2.23. Builders FirstSource, Inc. has a one year low of $9.04 and a one year high of $16.50. The company’s 50-day moving average is $14.77 and its 200-day moving average is $13.40.
Builders FirstSource (NASDAQ:BLDR) last posted its earnings results on Monday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.06. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. Builders FirstSource had a return on equity of 48.88% and a net margin of 2.54%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Equities research analysts anticipate that Builders FirstSource, Inc. will post $1.09 earnings per share for the current year.
BLDR has been the subject of several research reports. Zacks Investment Research raised Builders FirstSource from a “sell” rating to a “hold” rating in a report on Friday, February 17th. Wedbush reissued an “outperform” rating and set a $19.00 price target (up from $18.00) on shares of Builders FirstSource in a report on Thursday, March 2nd. FBR & Co reissued an “outperform” rating and set a $20.00 price target (up from $15.00) on shares of Builders FirstSource in a report on Friday, March 10th. Finally, BidaskClub raised Builders FirstSource from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.00.
In other Builders FirstSource news, insider Morris E. Tolly sold 50,268 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $14.81, for a total transaction of $744,469.08. Following the sale, the insider now owns 126,205 shares in the company, valued at $1,869,096.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Floyd F. Sherman sold 35,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $14.91, for a total value of $521,850.00. Following the sale, the chief executive officer now owns 633,635 shares in the company, valued at approximately $9,447,497.85. The disclosure for this sale can be found here. Corporate insiders own 14.60% of the company’s stock.
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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