Assetmark Inc. Sells 315,117 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Assetmark Inc. lessened its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 26.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 869,967 shares of the company's stock after selling 315,117 shares during the period. Assetmark Inc. owned about 0.75% of Builders FirstSource worth $168,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. AEGON ASSET MANAGEMENT UK Plc grew its stake in Builders FirstSource by 26.5% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 90,457 shares of the company's stock valued at $17,546,000 after purchasing an additional 18,964 shares in the last quarter. Hollencrest Capital Management purchased a new position in Builders FirstSource in the third quarter valued at about $140,000. Capital Performance Advisors LLP purchased a new position in Builders FirstSource in the third quarter valued at about $102,000. Hudson Value Partners LLC grew its stake in Builders FirstSource by 3.2% in the third quarter. Hudson Value Partners LLC now owns 59,292 shares of the company's stock valued at $11,494,000 after purchasing an additional 1,853 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in Builders FirstSource by 55.6% in the third quarter. Kornitzer Capital Management Inc. KS now owns 55,986 shares of the company's stock valued at $10,853,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

BLDR has been the subject of several recent analyst reports. Benchmark decreased their price target on Builders FirstSource from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their price target on Builders FirstSource from $217.00 to $195.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group upped their price target on Builders FirstSource from $185.00 to $223.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Barclays upped their price target on Builders FirstSource from $182.00 to $211.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Finally, B. Riley decreased their price target on Builders FirstSource from $197.00 to $187.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.47.

Insider Activity

In other news, Director Cleveland A. Christophe sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares in the company, valued at approximately $5,902,338.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Builders FirstSource Stock Performance

Builders FirstSource stock traded down $0.84 during trading hours on Friday, hitting $178.35. The stock had a trading volume of 1,353,154 shares, compared to its average volume of 1,310,087. The company has a 50-day moving average of $184.79 and a two-hundred day moving average of $168.52. The company has a quick ratio of 1.14, a current ratio of 1.77 and a debt-to-equity ratio of 0.83. The company has a market cap of $20.52 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 10.48 and a beta of 2.08. Builders FirstSource, Inc. has a fifty-two week low of $120.80 and a fifty-two week high of $214.70.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the company posted $4.24 earnings per share. The company's revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Builders FirstSource, Inc. will post 11.64 EPS for the current fiscal year.

Builders FirstSource announced that its board has approved a share buyback program on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Builders FirstSource Profile

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.