Korea Investment CORP Sells 62,203 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Korea Investment CORP cut its position in Builders FirstSource (NYSE:BLDR) by 47.7%, selling 62,203 shares and finishing the quarter with 68,187 shares worth $8,268,000 (about 0.06% of the company).
• Builders FirstSource missed expectations last quarter, reporting $1.12 EPS versus $1.30 expected and $3.36 billion in revenue (down 12.1% year-over-year and below the $3.46 billion consensus), with the stock trading lower (opened at $91.11, down ~2.7%).
• Analyst views are mixed: the consensus is a Hold with an average target of $127.81, though several brokerages recently lowered price targets while others maintain buy/outperform ratings.

Korea Investment CORP reduced its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 47.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,187 shares of the company's stock after selling 62,203 shares during the quarter. Korea Investment CORP owned 0.06% of Builders FirstSource worth $8,268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tran Capital Management L.P. increased its stake in Builders FirstSource by 2,930.4% in the third quarter. Tran Capital Management L.P. now owns 102,154 shares of the company's stock valued at $12,386,000 after acquiring an additional 98,783 shares during the last quarter. Strs Ohio raised its position in Builders FirstSource by 24.0% during the third quarter. Strs Ohio now owns 118,594 shares of the company's stock valued at $14,380,000 after purchasing an additional 22,926 shares in the last quarter. Seizert Capital Partners LLC lifted its stake in Builders FirstSource by 0.9% during the second quarter. Seizert Capital Partners LLC now owns 300,990 shares of the company's stock worth $35,123,000 after purchasing an additional 2,799 shares during the last quarter. Candriam S.C.A. lifted its stake in Builders FirstSource by 28.9% during the third quarter. Candriam S.C.A. now owns 53,085 shares of the company's stock worth $6,437,000 after purchasing an additional 11,891 shares during the last quarter. Finally, M&G PLC purchased a new position in shares of Builders FirstSource in the 2nd quarter worth about $9,002,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BLDR. Robert W. Baird reduced their price objective on Builders FirstSource from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 18th. UBS Group dropped their target price on Builders FirstSource from $166.00 to $143.00 and set a "buy" rating for the company in a research report on Tuesday, January 6th. DA Davidson cut their target price on Builders FirstSource from $115.00 to $111.00 and set a "neutral" rating for the company in a research note on Monday, February 2nd. William Blair began coverage on shares of Builders FirstSource in a research report on Thursday, February 26th. They set an "outperform" rating on the stock. Finally, Stephens decreased their price target on shares of Builders FirstSource from $137.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 18th. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $127.81.

Builders FirstSource Stock Down 2.7%

BLDR opened at $91.11 on Thursday. The company has a market cap of $10.08 billion, a P/E ratio of 23.48, a P/E/G ratio of 2.26 and a beta of 1.56. The business's 50-day moving average price is $113.55 and its 200-day moving average price is $116.85. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02. Builders FirstSource, Inc. has a 12 month low of $89.41 and a 12 month high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its earnings results on Tuesday, February 17th. The company reported $1.12 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.18). Builders FirstSource had a net margin of 2.87% and a return on equity of 17.89%. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the firm posted $2.31 EPS. The company's revenue was down 12.1% on a year-over-year basis. On average, equities analysts expect that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company's core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.

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