Thornburg Investment Management Inc. Cuts Stake in Builders FirstSource, Inc. $BLDR

Key Points

• Thornburg Investment Management cut its Builders FirstSource stake by 39.2% in the second quarter, selling 70,212 shares and retaining 108,892 shares valued at approximately $9.7 million. Institutional investors collectively own 95.53% of the company.
• Analyst sentiment is mixed, with a consensus rating of “Hold” from 25 analysts and an average price target of $90.35. Recent firms lowered targets, while Truist maintained a “Buy” rating and Zacks Research downgraded the stock to “Strong Sell.”
• Builders FirstSource shares opened at $67.74, near their 52-week low of $65.10. Latest quarterly results missed expectations, with EPS of $1.17 versus $1.25 expected and revenue down 8.8% year over year to $3.86 billion.

Thornburg Investment Management Inc. reduced its position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 39.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 108,892 shares of the company's stock after selling 70,212 shares during the quarter. Thornburg Investment Management Inc. owned 0.10% of Builders FirstSource worth $9,744,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC raised its holdings in Builders FirstSource by 9.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company's stock worth $432,000 after acquiring an additional 295 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Builders FirstSource by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,723 shares of the company's stock worth $1,215,000 after purchasing an additional 2,812 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Builders FirstSource by 180.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company's stock worth $185,000 after purchasing an additional 1,017 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Builders FirstSource by 230.7% in the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company's stock worth $2,210,000 after purchasing an additional 13,215 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of Builders FirstSource by 144.1% in the second quarter. Jump Financial LLC now owns 7,223 shares of the company's stock worth $843,000 after purchasing an additional 4,264 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on BLDR. Truist Financial dropped their price objective on Builders FirstSource from $115.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Zacks Research cut shares of Builders FirstSource from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. KeyCorp dropped their price target on shares of Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. DA Davidson set a $68.00 price target on shares of Builders FirstSource in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft set a $66.00 price target on shares of Builders FirstSource in a research note on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $90.35.

Builders FirstSource Price Performance

Shares of Builders FirstSource stock opened at $67.74 on Friday. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03. The stock's fifty day moving average is $74.96 and its 200 day moving average is $82.79. The stock has a market cap of $7.29 billion, a P/E ratio of 74.44, a P/E/G ratio of 2.20 and a beta of 1.44. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The business's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 EPS. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 3.15 earnings per share for the current year.

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.

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