Renaissance Technologies LLC Sells 314,500 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Renaissance Technologies cut its Builders FirstSource stake by 58.8%, selling 314,500 shares and retaining 220,241 shares valued at approximately $18.1 million.
• Institutional investors and hedge funds collectively own 95.53% of BLDR; several large holders, including Dimensional Fund Advisors and Sands Capital, increased their positions.
• BLDR faces mixed fundamentals and sentiment: quarterly EPS and revenue missed estimates, revenue fell 8.8% year over year, and analysts’ consensus rating is “Hold” with a $99.97 target price.

Renaissance Technologies LLC decreased its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 58.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,241 shares of the company's stock after selling 314,500 shares during the period. Renaissance Technologies LLC owned about 0.20% of Builders FirstSource worth $18,132,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BLDR. State Street Corp boosted its position in Builders FirstSource by 2.3% in the fourth quarter. State Street Corp now owns 5,108,120 shares of the company's stock valued at $525,574,000 after buying an additional 115,857 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Builders FirstSource by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 3,316,797 shares of the company's stock worth $341,265,000 after buying an additional 73,835 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Builders FirstSource by 12.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company's stock valued at $244,301,000 after acquiring an additional 325,935 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Builders FirstSource by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,817,958 shares of the company's stock worth $288,789,000 after acquiring an additional 14,420 shares in the last quarter. Finally, Sands Capital Management LLC boosted its holdings in shares of Builders FirstSource by 13.5% in the 4th quarter. Sands Capital Management LLC now owns 2,757,969 shares of the company's stock worth $283,767,000 after acquiring an additional 327,067 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Builders FirstSource

Here are the key news stories impacting Builders FirstSource this week:

• Positive Sentiment: An insider reportedly purchased 50,000 BLDR shares for approximately $4.4 million, potentially signaling confidence that the selloff has created value. Builders FirstSource Falls as Investors Weigh Weak Housing Signals and Earnings Risk

Analyst Upgrades and Downgrades

Several analysts have recently commented on BLDR shares. UBS Group decreased their target price on Builders FirstSource from $143.00 to $122.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Weiss Ratings cut Builders FirstSource from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, July 21st. Stifel Nicolaus reduced their price target on shares of Builders FirstSource from $76.00 to $70.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. Zacks Research raised shares of Builders FirstSource from a "strong sell" rating to a "hold" rating in a report on Friday, July 3rd. Finally, BMO Capital Markets lowered their price objective on shares of Builders FirstSource from $93.00 to $85.00 and set a "market perform" rating for the company in a research report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Builders FirstSource presently has an average rating of "Hold" and a consensus target price of $99.97.

Builders FirstSource Stock Performance

Shares of BLDR opened at $66.12 on Friday. Builders FirstSource, Inc. has a 12 month low of $65.10 and a 12 month high of $151.03. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.67 and a beta of 1.42. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. The firm has a fifty day simple moving average of $77.08 and a 200 day simple moving average of $90.01.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the firm earned $2.38 earnings per share. The firm's revenue for the quarter was down 8.8% on a year-over-year basis. Research analysts forecast that Builders FirstSource, Inc. will post 4.16 EPS for the current fiscal year.

Builders FirstSource declared that its board has approved a share buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Builders FirstSource Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.