Mackay Shields LLC Reduces Stake in BMC Stock Holdings Inc (NASDAQ:BMCH)

Mackay Shields LLC lowered its position in BMC Stock Holdings Inc (NASDAQ:BMCH) by 18.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,466 shares of the company’s stock after selling 36,800 shares during the period. Mackay Shields LLC owned approximately 0.24% of BMC Stock worth $4,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in BMC Stock in the second quarter valued at approximately $2,701,000. Parametric Portfolio Associates LLC boosted its position in BMC Stock by 29.8% in the second quarter. Parametric Portfolio Associates LLC now owns 165,514 shares of the company’s stock valued at $3,509,000 after buying an additional 37,965 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in BMC Stock by 103.7% in the second quarter. Public Employees Retirement System of Ohio now owns 60,215 shares of the company’s stock valued at $1,277,000 after buying an additional 30,659 shares during the last quarter. Convergence Investment Partners LLC boosted its position in BMC Stock by 289.6% in the third quarter. Convergence Investment Partners LLC now owns 41,190 shares of the company’s stock valued at $1,078,000 after buying an additional 30,617 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in BMC Stock by 315.7% in the second quarter. Renaissance Technologies LLC now owns 573,700 shares of the company’s stock valued at $12,162,000 after buying an additional 435,700 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

A number of equities research analysts recently commented on BMCH shares. Stephens upgraded BMC Stock from an “equal” rating to an “overweight” rating and upped their target price for the company from $25.00 to $33.00 in a research report on Wednesday, October 16th. BidaskClub lowered BMC Stock from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Buckingham Research upped their price objective on BMC Stock from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wedbush upped their price objective on BMC Stock from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. They noted that the move was a valuation call. Finally, B. Riley upped their price objective 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 company. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.50.

BMC Stock stock traded up $0.10 during mid-day trading on Friday, hitting $28.10. The company had a trading volume of 244,900 shares, compared to its average volume of 440,993. BMC Stock Holdings Inc has a 12-month low of $14.66 and a 12-month high of $28.97. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 15.11 and a beta of 0.91. The company’s fifty day moving average is $26.70 and its 200-day moving average is $23.47. The company has a current ratio of 2.32, a quick ratio of 1.53 and a debt-to-equity ratio of 0.48.

BMC Stock (NASDAQ:BMCH) last issued its earnings results on Tuesday, November 5th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. BMC Stock had a return on equity of 13.87% and a net margin of 3.28%. The business had revenue of $964.25 million during the quarter, compared to the consensus estimate of $947.70 million. During the same period last year, the company earned $0.58 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, sell-side analysts expect that BMC Stock Holdings Inc will post 1.7 EPS for the current fiscal year.

In other news, insider Lisa M. Hamblet sold 1,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $25.55, for a total transaction of $25,550.00. Also, Director Carl R. Vertuca, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $25.10, for a total value of $251,000.00. Following the transaction, the director now owns 19,771 shares of the company’s stock, valued at $496,252.10. The disclosure for this sale can be found here. Insiders sold a total of 97,600 shares of company stock valued at $2,674,083 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

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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Institutional Ownership by Quarter for BMC Stock (NASDAQ:BMCH)

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