Morse Asset Management Inc bought a new position in shares of Builders FirstSource, Inc. (NASDAQ:BLDR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 49,425 shares of the company’s stock, valued at approximately $757,000.
A number of other hedge funds have also recently modified their holdings of BLDR. Bank of New York Mellon Corp increased its position in Builders FirstSource by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 558,611 shares of the company’s stock worth $8,323,000 after buying an additional 78,250 shares during the period. US Bancorp DE increased its position in Builders FirstSource by 49.2% in the first quarter. US Bancorp DE now owns 72,231 shares of the company’s stock worth $1,077,000 after buying an additional 23,811 shares during the period. Boston Partners bought a new position in Builders FirstSource during the first quarter worth about $3,829,000. Sheaff Brock Investment Advisors LLC bought a new position in Builders FirstSource during the first quarter worth about $312,000. Finally, American Century Companies Inc. bought a new position in Builders FirstSource during the first quarter worth about $417,000. 85.17% of the stock is owned by institutional investors and hedge funds.
Shares of Builders FirstSource, Inc. (NASDAQ BLDR) traded down 1.58% during trading on Friday, hitting $15.57. The stock had a trading volume of 549,164 shares. The stock has a 50 day moving average of $15.86 and a 200 day moving average of $14.76. Builders FirstSource, Inc. has a 52-week low of $9.04 and a 52-week high of $17.22. The firm has a market cap of $1.75 billion, a PE ratio of 10.30 and a beta of 2.16.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.83 billion. Builders FirstSource had a net margin of 2.60% and a return on equity of 43.83%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that Builders FirstSource, Inc. will post $1.12 EPS for the current year.
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A number of research firms have issued reports on BLDR. Deutsche Bank AG lifted their price target on Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Builders FirstSource from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. FBR & Co reiterated a “buy” rating and set a $20.00 price target on shares of Builders FirstSource in a research note on Tuesday, June 27th. Finally, Wedbush reiterated an “outperform” rating and set a $20.00 price target (up previously from $19.00) on shares of Builders FirstSource in a research note on Wednesday, May 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $17.29.
In related news, CEO Floyd F. Sherman sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $14.91, for a total transaction 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 $9,447,497.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.60% of the stock is owned by company insiders.
About Builders FirstSource
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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