Fred Alger Management LLC Cuts Stock Position in Builders FirstSource, Inc. $BLDR

Key Points

• Fred Alger Management LLC reduced its holdings in Builders FirstSource, Inc. by 48.1%, selling 123,916 shares, leaving it with approximately 0.12% of the company's stock valued at about $16.68 million.
• While several institutional investors have modified their positions, 95.53% of Builders FirstSource's stock is owned by institutional investors and hedge funds.
• Analysts have mixed opinions on Builders FirstSource, with a Moderate Buy average rating and a price target of $154.44, following recent changes in price targets by various analysts.

Fred Alger Management LLC lessened its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 48.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,484 shares of the company's stock after selling 123,916 shares during the period. Fred Alger Management LLC owned 0.12% of Builders FirstSource worth $16,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BLDR. IMA Advisory Services Inc. acquired a new position in Builders FirstSource in the 1st quarter worth about $31,000. Sentry Investment Management LLC acquired a new stake in Builders FirstSource during the first quarter worth approximately $40,000. CX Institutional bought a new position in Builders FirstSource in the first quarter worth approximately $45,000. Mather Group LLC. boosted its holdings in Builders FirstSource by 19.7% in the first quarter. Mather Group LLC. now owns 595 shares of the company's stock worth $74,000 after acquiring an additional 98 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Builders FirstSource by 21.0% in the first quarter. Smartleaf Asset Management LLC now owns 627 shares of the company's stock worth $78,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Price Performance

BLDR stock traded up $6.35 during mid-day trading on Thursday, hitting $146.60. 2,061,159 shares of the stock were exchanged, compared to its average volume of 1,784,899. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.79 and a quick ratio of 1.08. The business has a fifty day moving average price of $134.74 and a 200 day moving average price of $125.00. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 14.85 and a beta of 1.61.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.35 by $0.03. Builders FirstSource had a return on equity of 24.61% and a net margin of 4.74%.The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the company posted $3.50 EPS. Builders FirstSource's revenue for the quarter was down 5.0% on a year-over-year basis. Builders FirstSource has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Analyst Ratings Changes

BLDR has been the topic of several recent research reports. Wedbush cut their price target on Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, June 20th. Oppenheimer set a $155.00 target price on Builders FirstSource and gave the company an "outperform" rating in a report on Thursday, July 10th. Royal Bank Of Canada downgraded Builders FirstSource from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $132.00 to $129.00 in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $134.00 target price on shares of Builders FirstSource in a research report on Friday, August 1st. Finally, Stifel Nicolaus raised their target price on Builders FirstSource from $118.00 to $128.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $154.44.

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.