Assenagon Asset Management S.A. Sells 163,285 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Assenagon Asset Management S.A. lowered its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 83.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,373 shares of the company's stock after selling 163,285 shares during the period. Assenagon Asset Management S.A.'s holdings in Builders FirstSource were worth $4,045,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BLDR. FMR LLC boosted its stake in shares of Builders FirstSource by 7.3% during the 4th quarter. FMR LLC now owns 10,898,366 shares of the company's stock valued at $1,557,703,000 after buying an additional 740,214 shares during the last quarter. Invesco Ltd. lifted its stake in Builders FirstSource by 1.2% in the fourth quarter. Invesco Ltd. now owns 2,253,588 shares of the company's stock valued at $322,105,000 after buying an additional 26,314 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Builders FirstSource by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company's stock valued at $319,898,000 after purchasing an additional 77,666 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Builders FirstSource by 47.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company's stock worth $277,776,000 after buying an additional 623,583 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Builders FirstSource by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,663,420 shares of the company's stock worth $237,753,000 after purchasing an additional 285,458 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Price Performance

Shares of NYSE:BLDR traded up $0.41 on Monday, hitting $111.70. The stock had a trading volume of 1,989,168 shares, compared to its average volume of 1,675,102. The firm's 50 day moving average price is $114.76 and its 200-day moving average price is $136.67. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77. Builders FirstSource, Inc. has a twelve month low of $102.60 and a twelve month high of $203.14. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.80 and a beta of 1.69.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. Builders FirstSource's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.65 EPS. On average, equities research analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource declared that its board has approved a share buyback program on Thursday, May 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

BLDR has been the topic of several research reports. Truist Financial dropped their price target on shares of Builders FirstSource from $220.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a research report on Tuesday, April 1st. They set a "buy" rating and a $151.00 price objective for the company. Robert W. Baird set a $130.00 price target on shares of Builders FirstSource in a research note on Friday, May 2nd. Stephens reduced their target price on shares of Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Loop Capital cut their target price on Builders FirstSource from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $167.58.

Insider Activity

In other news, Director Paul S. Levy purchased 216,483 shares of the company's stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $110.65 per share, with a total value of $23,953,843.95. Following the purchase, the director now directly owns 1,389,170 shares of the company's stock, valued at $153,711,660.50. This trade represents a 18.46% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dirkson R. Charles acquired 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were purchased at an average price of $109.67 per share, with a total value of $548,350.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at $548,350. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 505,000 shares of company stock valued at $56,032,120. Company insiders own 2.00% of the company's stock.

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.