Assetmark Inc. Grows Position in Builders FirstSource, Inc. (NYSE:BLDR)

Key Points

• Assetmark Inc. increased its holdings in Builders FirstSource, Inc. by 4.5%, owning approximately 0.80% of the company, valued at $113,684,000.
• Multiple institutional investors, including Cetera Investment Advisers and Diamond Hill Capital Management Inc., have also raised their stakes in the company during the first quarter.
• Builders FirstSource's stock received an average rating of "Moderate Buy" from analysts, with a consensus target price of $159.42, despite ratings from some firms indicating a potential underperformance.

Assetmark Inc. lifted its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 909,907 shares of the company's stock after purchasing an additional 38,844 shares during the quarter. Assetmark Inc. owned about 0.80% of Builders FirstSource worth $113,684,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BLDR. Meiji Yasuda Asset Management Co Ltd. raised its position in Builders FirstSource by 3.4% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,943 shares of the company's stock worth $278,000 after acquiring an additional 64 shares in the last quarter. HighPoint Advisor Group LLC raised its position in Builders FirstSource by 5.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,677 shares of the company's stock worth $262,000 after acquiring an additional 83 shares in the last quarter. Aptus Capital Advisors LLC raised its position in Builders FirstSource by 6.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,494 shares of the company's stock worth $214,000 after acquiring an additional 85 shares in the last quarter. Auxano Advisors LLC raised its position in Builders FirstSource by 3.8% in the first quarter. Auxano Advisors LLC now owns 2,479 shares of the company's stock worth $310,000 after acquiring an additional 91 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in Builders FirstSource by 2.3% in the fourth quarter. Baird Financial Group Inc. now owns 4,391 shares of the company's stock worth $628,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

BLDR has been the subject of several research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $132.00 price objective on shares of Builders FirstSource in a research report on Thursday, May 15th. Wedbush lowered their target price on Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, June 20th. Zelman & Associates reissued an "underperform" rating on shares of Builders FirstSource in a report on Friday, July 18th. Loop Capital lowered 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Builders FirstSource in a report on Tuesday, April 1st. They issued a "buy" rating and a $151.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $159.42.

Builders FirstSource Trading Up 0.9%

NYSE:BLDR traded up $1.26 during mid-day trading on Monday, reaching $137.72. The company's stock had a trading volume of 686,248 shares, compared to its average volume of 1,911,683. The company's fifty day simple moving average is $118.61 and its two-hundred day simple moving average is $129.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07. Builders FirstSource, Inc. has a twelve month low of $102.60 and a twelve month high of $203.14. The stock has a market cap of $15.22 billion, a P/E ratio of 17.66, a P/E/G ratio of 12.48 and a beta of 1.69.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. Builders FirstSource had a return on equity of 28.02% and a net margin of 5.66%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the company earned $2.65 EPS. The firm's quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

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

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Paul S. Levy purchased 283,517 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $111.21 per share, with a total value of $31,529,925.57. Following the purchase, the director owned 1,672,687 shares in the company, valued at approximately $186,019,521.27. This represents a 20.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dirkson R. Charles purchased 5,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was acquired at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at $548,350. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 505,000 shares of company stock worth $56,032,120. 1.80% of the stock is owned by corporate insiders.

Builders FirstSource Profile

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.