Meeder Asset Management Inc. Buys 26,949 Shares of TopBuild Corp. (NYSE:BLD)

Key Points

• Meeder Asset Management Inc. significantly increased its stake in TopBuild Corp. by 312.6% in Q1, owning 35,570 shares valued at approximately $10.8 million.
• A variety of large investors also raised their holdings, with Parallel Advisors LLC increasing their stake by 111.5% and MassMutual Private Wealth & Trust boosting theirs by 240%.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for TopBuild, with a target price averaging $387.27.

Meeder Asset Management Inc. grew its holdings in TopBuild Corp. (NYSE:BLD - Free Report) by 312.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,570 shares of the construction company's stock after buying an additional 26,949 shares during the quarter. TopBuild makes up 0.7% of Meeder Asset Management Inc.'s portfolio, making the stock its 29th largest position. Meeder Asset Management Inc. owned 0.12% of TopBuild worth $10,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of TopBuild by 111.5% in the first quarter. Parallel Advisors LLC now owns 129 shares of the construction company's stock valued at $39,000 after buying an additional 68 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of TopBuild in the first quarter valued at $50,000. MassMutual Private Wealth & Trust FSB increased its position in TopBuild by 240.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 187 shares of the construction company's stock worth $57,000 after purchasing an additional 132 shares during the period. Raiffeisen Bank International AG acquired a new stake in TopBuild in the fourth quarter worth about $81,000. Finally, Signaturefd LLC increased its position in TopBuild by 170.1% in the first quarter. Signaturefd LLC now owns 262 shares of the construction company's stock worth $80,000 after purchasing an additional 165 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Steven P. Raia sold 1,738 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $310.98, for a total transaction of $540,483.24. Following the sale, the insider owned 7,007 shares in the company, valued at $2,179,036.86. This represents a 19.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.43% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on BLD shares. DA Davidson lowered their price objective on TopBuild from $435.00 to $395.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Bank of America lifted their price objective on TopBuild from $320.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Stephens lowered their price objective on TopBuild from $340.00 to $320.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on TopBuild from $344.00 to $398.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Finally, Loop Capital lifted their price objective on TopBuild from $360.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, TopBuild presently has an average rating of "Moderate Buy" and a consensus price target of $387.27.

TopBuild Stock Up 2.3%

NYSE BLD traded up $8.46 during trading on Friday, hitting $378.89. The stock had a trading volume of 309,355 shares, compared to its average volume of 361,581. The company has a market capitalization of $10.83 billion, a PE ratio of 19.16, a P/E/G ratio of 4.83 and a beta of 1.64. The company's 50-day moving average price is $330.99 and its two-hundred day moving average price is $316.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.47 and a current ratio of 2.02. TopBuild Corp. has a 12 month low of $266.26 and a 12 month high of $436.99.

TopBuild (NYSE:BLD - Get Free Report) last released its earnings results on Tuesday, May 6th. The construction company reported $4.63 EPS for the quarter, beating the consensus estimate of $4.43 by $0.20. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.23 billion. TopBuild had a return on equity of 28.52% and a net margin of 11.23%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.81 EPS. As a group, sell-side analysts forecast that TopBuild Corp. will post 20.97 EPS for the current year.

About TopBuild

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.