Mackay Shields LLC lessened its holdings in shares of BMC Stock Holdings Inc (NASDAQ:BMCH) by 18.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 161,466 shares of the company’s stock after selling 36,800 shares during the period. Mackay Shields LLC’s holdings in BMC Stock were worth $4,227,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of BMC Stock by 7.3% during the 2nd quarter. BlackRock Inc. now owns 5,415,068 shares of the company’s stock worth $114,799,000 after acquiring an additional 368,188 shares in the last quarter. Vanguard Group Inc. increased its position in BMC Stock by 1.4% during the second quarter. Vanguard Group Inc. now owns 3,277,653 shares of the company’s stock worth $69,486,000 after buying an additional 44,818 shares during the period. Prudential Financial Inc. increased its position in BMC Stock by 78.8% during the second quarter. Prudential Financial Inc. now owns 1,969,285 shares of the company’s stock worth $41,748,000 after buying an additional 867,790 shares during the period. Northern Trust Corp increased its position in BMC Stock by 0.8% during the second quarter. Northern Trust Corp now owns 1,436,311 shares of the company’s stock worth $30,450,000 after buying an additional 11,332 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in BMC Stock during the second quarter worth approximately $24,609,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.
In other BMC Stock news, insider James F. Jr. Major sold 47,263 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $28.57, for a total transaction of $1,350,303.91. Also, insider James F. Jr. Major sold 13,300 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $28.03, for a total value of $372,799.00. Over the last quarter, insiders have sold 97,600 shares of company stock worth $2,674,083. 1.20% of the stock is owned by company insiders.
BMCH has been the topic of several research analyst reports. Buckingham Research lifted their price target on BMC Stock from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. SunTrust Banks set a $25.00 price target on BMC Stock and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Zacks Investment Research raised BMC Stock from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research report on Friday, August 9th. Royal Bank of Canada raised BMC Stock from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $25.00 to $29.00 in a research report on Tuesday, October 15th. Finally, B. Riley lifted their price target on BMC Stock from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.50.
Shares of BMCH stock traded up $0.10 during midday trading on Friday, hitting $28.10. The company had a trading volume of 244,900 shares, compared to its average volume of 440,993. The company’s 50 day simple moving average is $26.70 and its 200 day simple moving average is $23.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.32 and a quick ratio of 1.53. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 15.11 and a beta of 0.91. BMC Stock Holdings Inc has a 52-week low of $14.66 and a 52-week high of $28.97.
BMC Stock (NASDAQ:BMCH) last posted its earnings results on Tuesday, November 5th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The company had revenue of $964.25 million for the quarter, compared to the consensus estimate of $947.70 million. BMC Stock had a return on equity of 13.87% and a net margin of 3.28%. BMC Stock’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share. Analysts anticipate that BMC Stock Holdings Inc will post 1.7 EPS for the current year.
About BMC Stock
BMC Stock Holdings, Inc distributes lumber and building materials to new construction, and repair and remodeling contractors in the United States. Its products comprise structural components, such as floor and roof trusses, wall panels, and engineered wood products; lumber and lumber sheet goods, including dimensional lumber, plywood, and oriented strand board products used in on-site house framing under the Ready-Frame brand; and millwork, doors, and windows comprising interior and exterior doors, windows, interior trims, custom millworks, moldings, stairs and stair parts, and cabinetry and other products.
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