Ascent Group LLC Cuts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Ascent Group LLC decreased its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,479 shares of the company’s stock after selling 759 shares during the quarter. Ascent Group LLC’s holdings in Builders FirstSource were worth $1,560,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BLDR. HB Wealth Management LLC purchased a new position in shares of Builders FirstSource in the 4th quarter worth about $340,000. Raymond James & Associates lifted its stake in shares of Builders FirstSource by 0.7% in the fourth quarter. Raymond James & Associates now owns 128,969 shares of the company’s stock worth $21,530,000 after buying an additional 908 shares in the last quarter. Schechter Investment Advisors LLC purchased a new stake in shares of Builders FirstSource during the fourth quarter valued at approximately $216,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Builders FirstSource during the fourth quarter valued at approximately $63,000. Finally, Blue Trust Inc. raised its holdings in Builders FirstSource by 27.1% in the 4th quarter. Blue Trust Inc. now owns 1,458 shares of the company’s stock worth $243,000 after acquiring an additional 311 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total transaction of $776,343.75. Following the completion of the sale, the insider now directly owns 30,106 shares of the company’s stock, valued at approximately $4,794,380.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Paul M. Mccrobie sold 9,118 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the completion of the transaction, the insider now directly owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Hiller sold 4,875 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total value of $776,343.75. Following the transaction, the insider now owns 30,106 shares of the company’s stock, valued at approximately $4,794,380.50. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Builders FirstSource Stock Performance

Shares of NYSE BLDR traded up $0.65 during trading on Monday, hitting $168.14. The company had a trading volume of 1,172,577 shares, compared to its average volume of 1,610,889. Builders FirstSource, Inc. has a 12 month low of $105.24 and a 12 month high of $214.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.45 and a current ratio of 2.21. The firm has a market capitalization of $20.52 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 2.69 and a beta of 2.04. The stock has a 50 day simple moving average of $150.73 and a 200 day simple moving average of $173.86.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, May 7th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.23. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $2.96 EPS. As a group, analysts anticipate that Builders FirstSource, Inc. will post 12.93 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on BLDR shares. Truist Financial cut their target price on Builders FirstSource from $190.00 to $180.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Robert W. Baird dropped their price objective on Builders FirstSource from $207.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Wedbush decreased their target price on Builders FirstSource from $215.00 to $175.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Bank of America dropped their price target on shares of Builders FirstSource from $195.00 to $183.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Finally, Jefferies Financial Group raised their target price on shares of Builders FirstSource from $226.00 to $237.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.87.

About Builders FirstSource

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.