Assenagon Asset Management S.A. Has $8.60 Million Stock Position in Builders FirstSource, Inc. $BLDR

Key Points

• Assenagon Asset Management increased its Builders FirstSource stake by 1,169.1% in the second quarter, bringing its holdings to 96,157 shares worth approximately $8.6 million.
• Institutional investors own 95.53% of BLDR, while analysts have a consensus “Hold” rating and an average price target of $90.35.
• Builders FirstSource missed quarterly earnings and revenue estimates, with EPS of $1.17 and revenue of $3.86 billion; its shares opened at $74.94, and the company has authorized a $500 million share-repurchase plan.

Assenagon Asset Management S.A. increased its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 1,169.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,157 shares of the company's stock after buying an additional 88,580 shares during the quarter. Assenagon Asset Management S.A. owned 0.09% of Builders FirstSource worth $8,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLDR. Wisconsin Wealth Advisors LLC increased its holdings in Builders FirstSource by 72.7% during the 2nd quarter. Wisconsin Wealth Advisors LLC now owns 6,780 shares of the company's stock worth $607,000 after purchasing an additional 2,853 shares in the last quarter. CX Institutional raised its holdings in shares of Builders FirstSource by 212.9% in the second quarter. CX Institutional now owns 2,616 shares of the company's stock valued at $234,000 after purchasing an additional 1,780 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Builders FirstSource by 6.7% in the first quarter. Glenmede Trust Co. NA now owns 7,126 shares of the company's stock worth $587,000 after purchasing an additional 450 shares in the last quarter. Turtle Creek Asset Management Inc. lifted its position in shares of Builders FirstSource by 40.4% in the first quarter. Turtle Creek Asset Management Inc. now owns 94,990 shares of the company's stock worth $7,821,000 after purchasing an additional 27,350 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Builders FirstSource by 484.9% during the first quarter. Edgestream Partners L.P. now owns 21,277 shares of the company's stock worth $1,752,000 after purchasing an additional 17,639 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BLDR. Royal Bank Of Canada lowered their price target on Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. DA Davidson set a $68.00 price objective on Builders FirstSource in a report on Friday, July 31st. Barclays decreased their target price on shares of Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Robert W. Baird set a $75.00 target price on shares of Builders FirstSource in a report on Friday, July 31st. Finally, The Goldman Sachs Group dropped their price target on shares of Builders FirstSource from $110.00 to $101.00 in a research report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $90.35.

Builders FirstSource Trading Up 4.1%

Shares of Builders FirstSource stock opened at $74.94 on Wednesday. The firm has a 50-day moving average of $76.68 and a 200-day moving average of $87.03. The stock has a market cap of $8.06 billion, a PE ratio of 82.35, a PEG ratio of 2.34 and a beta of 1.44. Builders FirstSource, Inc. has a 52-week low of $65.10 and a 52-week high of $151.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the business posted $2.38 earnings per share. Builders FirstSource's revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Builders FirstSource, Inc. will post 3.15 EPS for the current year.

Builders FirstSource announced that its board has authorized a share repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company's core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.

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