Pictet Asset Management Ltd. Has $15.64 Million Stake in Builders FirstSource, Inc. (BLDR)
Pictet Asset Management Ltd. decreased its position in Builders FirstSource, Inc. (NASDAQ:BLDR) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 1,144,607 shares of the company’s stock after selling 12,318 shares during the period. Pictet Asset Management Ltd.’s holdings in Builders FirstSource were worth $15,635,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Builders FirstSource by 68,569.7% in the first quarter. BlackRock Inc. now owns 6,349,196 shares of the company’s stock worth $94,602,000 after buying an additional 6,339,950 shares during the period. Vanguard Group Inc. boosted its stake in shares of Builders FirstSource by 21.7% in the first quarter. Vanguard Group Inc. now owns 5,914,387 shares of the company’s stock worth $88,124,000 after buying an additional 1,053,799 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Builders FirstSource by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,019,193 shares of the company’s stock worth $44,986,000 after buying an additional 71,261 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of Builders FirstSource by 9.0% in the first quarter. Eagle Asset Management Inc. now owns 2,401,261 shares of the company’s stock worth $35,778,000 after buying an additional 199,154 shares during the period. Finally, State Street Corp boosted its stake in shares of Builders FirstSource by 6.6% in the first quarter. State Street Corp now owns 1,544,450 shares of the company’s stock worth $23,012,000 after buying an additional 96,123 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.
Shares of Builders FirstSource, Inc. (BLDR) opened at 16.34 on Friday. Builders FirstSource, Inc. has a 1-year low of $9.04 and a 1-year high of $17.22. The firm has a 50-day moving average price of $15.72 and a 200-day moving average price of $14.59. The stock has a market capitalization of $1.84 billion, a PE ratio of 10.81 and a beta of 2.16.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.83 billion. Builders FirstSource had a return on equity of 43.83% and a net margin of 2.60%. Builders FirstSource’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. On average, equities research analysts forecast that Builders FirstSource, Inc. will post $1.12 earnings per share for the current year.
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A number of equities research analysts recently weighed in on BLDR shares. Zacks Investment Research upgraded Builders FirstSource from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Wednesday, April 26th. BidaskClub upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. FBR & Co restated a “buy” rating and set a $20.00 price objective on shares of Builders FirstSource in a research note on Tuesday, June 27th. Deutsche Bank AG upped their price objective on Builders FirstSource from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $20.00 price objective (up from $19.00) on shares of Builders FirstSource in a research note on Wednesday, May 17th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $17.29.
In other Builders FirstSource news, CEO Floyd F. Sherman sold 35,000 shares of Builders FirstSource stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $14.91, for a total transaction of $521,850.00. Following the completion of the sale, the chief executive officer now directly owns 633,635 shares of the company’s stock, valued at approximately $9,447,497.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.60% of the stock is owned by insiders.
About Builders FirstSource
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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