Rubric Capital Management LP raised its stake in Builders FirstSource, Inc. (NASDAQ:BLDR) by 99.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 589,230 shares of the company’s stock after purchasing an additional 293,694 shares during the quarter. Builders FirstSource makes up about 1.0% of Rubric Capital Management LP’s portfolio, making the stock its 26th biggest holding. Rubric Capital Management LP owned 0.52% of Builders FirstSource worth $10,600,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of Builders FirstSource during the 3rd quarter worth approximately $110,000. SG Americas Securities LLC bought a new position in shares of Builders FirstSource during the 2nd quarter worth approximately $114,000. Ameritas Investment Partners Inc. boosted its stake in shares of Builders FirstSource by 17.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock worth $130,000 after acquiring an additional 1,253 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Builders FirstSource by 10,237.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock worth $131,000 after acquiring an additional 8,497 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Builders FirstSource during the 3rd quarter worth approximately $147,000. Hedge funds and other institutional investors own 94.55% of the company’s stock.
BLDR has been the subject of several research analyst reports. Zacks Investment Research downgraded Builders FirstSource from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. Wedbush reissued a “buy” rating and set a $20.00 price target on shares of Builders FirstSource in a report on Thursday, September 7th. Citigroup lifted their price target on Builders FirstSource from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. SunTrust Banks reissued a “buy” rating and set a $20.00 price target on shares of Builders FirstSource in a report on Friday, November 10th. Finally, Barclays lifted their price target on Builders FirstSource from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.
Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Builders FirstSource had a return on equity of 33.66% and a net margin of 1.29%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS. analysts predict that Builders FirstSource, Inc. will post 1.06 earnings per share for the current year.
In other Builders FirstSource news, CEO Floyd F. Sherman sold 40,000 shares of Builders FirstSource stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $19.43, for a total value of $777,200.00. Following the completion of the transaction, the chief executive officer now directly owns 623,635 shares of the company’s stock, valued at approximately $12,117,228.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter M. Jackson sold 12,500 shares of Builders FirstSource stock in a transaction on Friday, December 8th. The shares were sold at an average price of $20.51, for a total value of $256,375.00. Following the completion of the transaction, the chief financial officer now directly owns 26,587 shares of the company’s stock, valued at $545,299.37. The disclosure for this sale can be found here. Insiders sold a total of 377,598 shares of company stock valued at $6,950,025 over the last ninety days. Insiders own 14.60% of the company’s stock.
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Builders FirstSource Profile
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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