Brookmont Capital Management Acquires New Position in Builders FirstSource, Inc. $BLDR

Key Points

• Brookmont Capital Management initiated a 47,122-share position in Builders FirstSource during the third quarter, valued at approximately $2.7 million and representing 1.5% of its portfolio.
• Institutional ownership remains high at 95.53%, with several other investors—including BlackRock and Nisa Investment Advisors—recently adding significant positions.
• BLDR shares opened at $56.88, well below their 12-month high of $131.50. The company recently missed quarterly earnings and revenue estimates, while analysts maintain a consensus “Hold” rating with an $82.25 price target.

Brookmont Capital Management acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 47,122 shares of the company's stock, valued at approximately $2,686,000. Builders FirstSource makes up 1.5% of Brookmont Capital Management's portfolio, making the stock its 24th biggest holding.

A number of other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in Builders FirstSource by 40,460.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 732,529 shares of the company's stock valued at $41,761,000 after buying an additional 730,723 shares in the last quarter. BlackRock Inc. acquired a new position in Builders FirstSource during the 2nd quarter worth approximately $700,934,000. Louisbourg Investments Inc. bought a new position in Builders FirstSource in the third quarter worth approximately $1,949,000. CWA Asset Management Group LLC bought a new position in Builders FirstSource in the third quarter worth approximately $829,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Builders FirstSource in the second quarter valued at approximately $7,317,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Stock Down 1.1%

BLDR stock opened at $56.88 on Friday. Builders FirstSource, Inc. has a twelve month low of $49.67 and a twelve month high of $131.50. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14. The stock's 50 day moving average is $60.29 and its 200-day moving average is $71.80. The firm has a market capitalization of $6.12 billion, a PE ratio of 62.51, a P/E/G ratio of 1.89 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The company had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.91 billion. During the same period in the previous year, the firm earned $2.38 EPS. The firm's quarterly revenue was down 8.8% on a year-over-year basis. Sell-side analysts expect that Builders FirstSource, Inc. will post 3.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BLDR shares. Oppenheimer lowered their target price on Builders FirstSource from $90.00 to $78.00 and set an "outperform" rating on the stock in a research report on Friday, October 16th. Zacks Research upgraded Builders FirstSource from a "strong sell" rating to a "hold" rating in a report on Friday, October 2nd. BMO Capital Markets restated a "market perform" rating and set a $80.00 price target on shares of Builders FirstSource in a research note on Thursday, August 6th. William Blair downgraded shares of Builders FirstSource from an "outperform" rating to a "market perform" rating in a report on Thursday. Finally, Benchmark dropped their price objective on shares of Builders FirstSource from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $82.25.

Builders FirstSource Profile

Builders FirstSource, Inc is a supplier of building materials, manufactured components and construction services for professional homebuilders, remodelers and other construction customers in the United States. The company provides products used throughout the residential construction process, from structural framing to interior and exterior finishes.

Its offerings include lumber and engineered wood products, roof and floor trusses, wall panels, prefabricated components, windows, doors, millwork, cabinets, roofing, siding, insulation, gypsum and related hardware.

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