Rubric Capital Management LP Invests $4.53 Million in Builders FirstSource, Inc. (BLDR)
Rubric Capital Management LP purchased a new stake in shares of Builders FirstSource, Inc. (NASDAQ:BLDR) during the second quarter, Holdings Channel reports. The fund purchased 295,536 shares of the company’s stock, valued at approximately $4,528,000.
A number of other institutional investors also recently modified their holdings of BLDR. Teachers Advisors LLC boosted its position in shares of Builders FirstSource by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 196,860 shares of the company’s stock valued at $2,160,000 after buying an additional 12,842 shares during the period. Fox Run Management L.L.C. boosted its position in shares of Builders FirstSource by 59.6% in the first quarter. Fox Run Management L.L.C. now owns 32,400 shares of the company’s stock valued at $483,000 after buying an additional 12,100 shares during the period. National Investment Services Inc. WI boosted its position in shares of Builders FirstSource by 17.9% in the first quarter. National Investment Services Inc. WI now owns 14,950 shares of the company’s stock valued at $223,000 after buying an additional 2,266 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Builders FirstSource during the first quarter valued at about $911,000. Finally, Essex Investment Management Co. LLC boosted its position in shares of Builders FirstSource by 18.4% in the first quarter. Essex Investment Management Co. LLC now owns 136,729 shares of the company’s stock valued at $2,037,000 after buying an additional 21,232 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.
Shares of Builders FirstSource, Inc. (NASDAQ BLDR) opened at 16.34 on Friday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 10.81 and a beta of 2.16. The firm has a 50-day moving average price of $15.72 and a 200-day moving average price of $14.59. Builders FirstSource, Inc. has a one year low of $9.04 and a one year high of $17.22.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. Builders FirstSource had a net margin of 2.60% and a return on equity of 43.83%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.31 earnings per share. Builders FirstSource’s revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that Builders FirstSource, Inc. will post $1.12 earnings per share for the current fiscal year.
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Several equities analysts recently issued reports on BLDR shares. Zacks Investment Research cut Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Monday, April 24th. Citigroup Inc. boosted their price target on Builders FirstSource from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, May 11th. Wedbush restated an “outperform” rating and issued a $20.00 price target (up previously from $19.00) on shares of Builders FirstSource in a research report on Wednesday, May 17th. BidaskClub upgraded Builders FirstSource from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, FBR & Co restated a “buy” rating and issued a $20.00 price target on shares of Builders FirstSource in a research report on Tuesday, June 27th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $17.29.
In other Builders FirstSource news, CEO Floyd F. Sherman sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $14.91, for a total value of $521,850.00. Following the sale, the chief executive officer now owns 633,635 shares in the company, valued at $9,447,497.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.60% of the stock is currently owned by company insiders.
Builders FirstSource Company 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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