JPMorgan Chase & Co. Cuts Position in Builders FirstSource, Inc. (NYSE:BLDR)

JPMorgan Chase & Co. decreased its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 27.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 575,962 shares of the company's stock after selling 217,220 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.50% of Builders FirstSource worth $82,322,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BLDR. Smartleaf Asset Management LLC boosted its stake in shares of Builders FirstSource by 34.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock worth $74,000 after buying an additional 134 shares during the last quarter. Mountain Lake Investment Management LLC raised its holdings in Builders FirstSource by 7.0% during the fourth quarter. Mountain Lake Investment Management LLC now owns 36,367 shares of the company's stock worth $5,201,000 after acquiring an additional 2,367 shares in the last quarter. Fisher Asset Management LLC boosted its position in Builders FirstSource by 14.9% during the fourth quarter. Fisher Asset Management LLC now owns 196,491 shares of the company's stock valued at $28,084,000 after purchasing an additional 25,535 shares during the last quarter. Fiera Capital Corp bought a new position in Builders FirstSource in the fourth quarter valued at approximately $27,089,000. Finally, Lecap Asset Management Ltd. increased its position in shares of Builders FirstSource by 82.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 22,043 shares of the company's stock worth $3,151,000 after purchasing an additional 9,970 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLDR. Barclays cut their target price on shares of Builders FirstSource from $165.00 to $151.00 and set an "overweight" rating for the company in a research note on Tuesday. Loop Capital cut their price objective on Builders FirstSource from $205.00 to $190.00 and set a "buy" rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group decreased their target price on Builders FirstSource from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Truist Financial cut their price target on Builders FirstSource from $220.00 to $180.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on shares of Builders FirstSource from $167.00 to $162.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $187.89.

Builders FirstSource Stock Performance

Shares of BLDR stock traded down $5.26 during mid-day trading on Tuesday, reaching $113.66. 2,500,635 shares of the company's stock traded hands, compared to its average volume of 1,673,430. Builders FirstSource, Inc. has a 12 month low of $112.13 and a 12 month high of $203.14. The firm has a 50 day moving average price of $138.15 and a two-hundred day moving average price of $160.84. The firm has a market capitalization of $12.91 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.80 and a beta of 1.99. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.13. The business had revenue of $3.82 billion during the quarter, compared to analysts' expectations of $3.90 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. On average, research analysts forecast that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

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.