Formula Growth Ltd. raised its holdings in shares of Builders FirstSource, Inc. (NASDAQ:BLDR) by 9.5% during the 2nd quarter, Holdings Channel reports. The firm owned 1,037,820 shares of the company’s stock after acquiring an additional 90,000 shares during the quarter. Builders FirstSource comprises approximately 2.1% of Formula Growth Ltd.’s holdings, making the stock its 15th biggest position. Formula Growth Ltd.’s holdings in Builders FirstSource were worth $18,982,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC purchased a new stake in Builders FirstSource during the first quarter valued at about $104,000. NumerixS Investment Technologies Inc lifted its holdings in Builders FirstSource by 229.8% during the second quarter. NumerixS Investment Technologies Inc now owns 5,600 shares of the company’s stock valued at $101,000 after purchasing an additional 3,902 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Builders FirstSource during the first quarter valued at about $112,000. Hilltop Holdings Inc. purchased a new stake in Builders FirstSource during the first quarter valued at about $203,000. Finally, Royal Bank of Canada lifted its holdings in Builders FirstSource by 140.2% during the first quarter. Royal Bank of Canada now owns 10,965 shares of the company’s stock valued at $218,000 after purchasing an additional 6,401 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of BLDR opened at $15.47 on Wednesday. Builders FirstSource, Inc. has a twelve month low of $15.26 and a twelve month high of $23.28. The stock has a market cap of $1.79 billion, a PE ratio of 9.95 and a beta of 2.00. The company has a current ratio of 2.04, a quick ratio of 1.12 and a debt-to-equity ratio of 4.23.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). Builders FirstSource had a net margin of 1.03% and a return on equity of 44.19%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.06 billion. sell-side analysts predict that Builders FirstSource, Inc. will post 1.85 earnings per share for the current fiscal year.
Several research firms have commented on BLDR. ValuEngine downgraded shares of Builders FirstSource from a “sell” rating to a “strong sell” rating in a report on Thursday, August 30th. Deutsche Bank dropped their price objective on shares of Builders FirstSource from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Monday, August 20th. TheStreet raised shares of Builders FirstSource from a “c+” rating to a “b” rating in a report on Wednesday, August 15th. Barclays dropped their price objective on shares of Builders FirstSource from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, August 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $25.00 price objective (down from $28.00) on shares of Builders FirstSource in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.42.
In other news, Director Robert C. Griffin sold 16,756 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $17.15, for a total transaction of $287,365.40. Following the sale, the director now directly owns 30,104 shares in the company, valued at $516,283.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cleveland A. Christophe sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $16.07, for a total value of $482,100.00. Following the sale, the director now owns 24,991 shares in the company, valued at $401,605.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,756 shares of company stock worth $1,779,965. Company insiders own 2.30% of the company’s stock.
Builders FirstSource Company Profile
Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. Its products include lumber and lumber sheet goods comprising dimensional lumber, plywood, and OSB products that are used in on-site house framing; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand.
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