Fred Alger Management LLC Sells 20,902 Shares of Builders FirstSource, Inc. $BLDR

Fred Alger Management LLC decreased its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 16.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,484 shares of the company’s stock after selling 20,902 shares during the period. Fred Alger Management LLC owned 0.10% of Builders FirstSource worth $12,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLDR. State Street Corp boosted its holdings in Builders FirstSource by 0.6% in the second quarter. State Street Corp now owns 5,026,553 shares of the company’s stock valued at $586,548,000 after acquiring an additional 29,443 shares during the last quarter. Capital International Investors bought a new position in Builders FirstSource during the 3rd quarter worth approximately $429,640,000. Sands Capital Management LLC raised its holdings in Builders FirstSource by 139.1% during the 3rd quarter. Sands Capital Management LLC now owns 2,430,902 shares of the company’s stock worth $294,747,000 after purchasing an additional 1,414,129 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Builders FirstSource by 235.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,893,483 shares of the company’s stock worth $229,585,000 after purchasing an additional 1,328,363 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Builders FirstSource by 2,498.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,854,525 shares of the company’s stock worth $224,861,000 after purchasing an additional 1,783,164 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Builders FirstSource

In other news, Director Paul S. Levy bought 50,000 shares of Builders FirstSource stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the purchase, the director directly owned 1,727,191 shares in the company, valued at $151,526,466.43. The trade was a 2.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLDR. UBS Group decreased their price objective on shares of Builders FirstSource from $166.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. William Blair assumed coverage on Builders FirstSource in a report on Thursday, February 26th. They set an “outperform” rating for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Builders FirstSource in a research report on Wednesday, January 21st. Jefferies Financial Group dropped their price objective on Builders FirstSource from $112.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. Finally, Wells Fargo & Company upped their target price on Builders FirstSource from $115.00 to $120.00 and gave the company a “cautious” rating in a research report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Builders FirstSource has a consensus rating of “Hold” and a consensus price target of $126.65.

Builders FirstSource Stock Performance

Shares of BLDR opened at $87.05 on Tuesday. The firm has a market capitalization of $9.63 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.13 and a beta of 1.56. Builders FirstSource, Inc. has a 52 week low of $86.18 and a 52 week high of $151.03. The stock has a 50 day moving average price of $112.46 and a two-hundred day moving average price of $115.52. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.86.

Builders FirstSource (NYSE:BLDR) last posted its earnings results on Tuesday, February 17th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.18). Builders FirstSource had a net margin of 2.87% and a return on equity of 17.89%. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the business earned $2.31 EPS. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. Equities analysts forecast that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource 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.