Builders FirstSource, Inc. $BLDR Stock: Sumitomo Mitsui DS Asset Management Company Ltd Grows Position

Key Points

• Sumitomo Mitsui DS Asset Management increased its Builders FirstSource stake by 13,180.7% in the third quarter, purchasing 452,625 additional shares for a total of 456,059 shares worth approximately $26 million.
• Institutional investors and hedge funds own 95.53% of BLDR, with several major firms—including BlackRock and Diamond Hill Capital Management—recently establishing sizable positions.
• BLDR opened at $52.81, near its 12-month low, after quarterly earnings and revenue fell short of estimates. Analysts maintain a consensus “Hold” rating with an average price target of $82.25.

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 13,180.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 456,059 shares of the company's stock after buying an additional 452,625 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.42% of Builders FirstSource worth $26,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Builders FirstSource during the second quarter valued at about $700,934,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Builders FirstSource during the second quarter worth about $134,908,000. Bank of America Corp DE purchased a new position in shares of Builders FirstSource in the 2nd quarter worth about $83,832,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Builders FirstSource in the 3rd quarter worth about $48,738,000. Finally, Jupiter Topco LLC purchased a new position in shares of Builders FirstSource in the 2nd quarter worth about $73,935,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $52.81 on Tuesday. Builders FirstSource, Inc. has a 12 month low of $49.67 and a 12 month high of $131.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. The firm has a market capitalization of $5.68 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.79 and a beta of 1.45. The company's fifty day moving average price is $61.72 and its two-hundred day moving average price is $72.43.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.08). The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. Builders FirstSource's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.38 EPS. On average, research analysts anticipate that Builders FirstSource, Inc. will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BLDR has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Builders FirstSource in a research note on Monday. BMO Capital Markets reissued a "market perform" rating and set a $80.00 target price on shares of Builders FirstSource in a research report on Thursday, August 6th. Royal Bank Of Canada dropped their target price on shares of Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Melius Research started coverage on shares of Builders FirstSource in a report on Tuesday, October 6th. They issued a "sell" rating and a $52.00 price target on the stock. Finally, Stifel Nicolaus set a $65.00 price objective on shares of Builders FirstSource in a research note on Friday, September 18th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $82.25.

Builders FirstSource Company 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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