State of Michigan Retirement System Purchases 100 Shares of TopBuild Corp. (NYSE:BLD)

State of Michigan Retirement System boosted its position in TopBuild Corp. (NYSE:BLD) by 1.3% during the first quarter, HoldingsChannel.com reports. The fund owned 7,757 shares of the construction company’s stock after buying an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in TopBuild were worth $3,419,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA bought a new position in shares of TopBuild in the 3rd quarter valued at $239,000. iA Global Asset Management Inc. bought a new stake in shares of TopBuild during the third quarter worth about $686,000. Toroso Investments LLC grew its holdings in shares of TopBuild by 3.2% during the third quarter. Toroso Investments LLC now owns 3,518 shares of the construction company’s stock worth $885,000 after purchasing an additional 110 shares during the last quarter. Comerica Bank acquired a new position in shares of TopBuild in the third quarter valued at approximately $4,058,000. Finally, Graham Capital Management L.P. bought a new position in TopBuild in the 3rd quarter valued at approximately $769,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BLD shares. Evercore ISI boosted their target price on shares of TopBuild from $469.00 to $527.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Benchmark upped their price target on TopBuild from $450.00 to $470.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Stephens reissued an “equal weight” rating and issued a $425.00 price target on shares of TopBuild in a research note on Tuesday, April 23rd. Bank of America lifted their price objective on TopBuild from $410.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, DA Davidson started coverage on TopBuild in a report on Tuesday, March 5th. They issued a “buy” rating and a $470.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.00.

TopBuild Price Performance

Shares of BLD opened at $374.00 on Wednesday. The business’s 50 day moving average price is $403.39 and its two-hundred day moving average price is $397.35. The firm has a market cap of $11.90 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.78 and a beta of 1.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.33 and a current ratio of 2.81. TopBuild Corp. has a 52-week low of $217.08 and a 52-week high of $452.87.

TopBuild (NYSE:BLD) last released its quarterly earnings data on Tuesday, May 7th. The construction company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $0.25. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.30 billion. TopBuild had a net margin of 12.11% and a return on equity of 25.87%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.36 EPS. On average, equities analysts anticipate that TopBuild Corp. will post 21.63 EPS for the current year.

Insider Buying and Selling at TopBuild

In other TopBuild news, Director Nancy M. Taylor sold 300 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $415.81, for a total transaction of $124,743.00. Following the completion of the sale, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $2,461,595.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TopBuild news, CEO Robert M. Buck sold 5,000 shares of TopBuild stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $403.72, for a total transaction of $2,018,600.00. Following the transaction, the chief executive officer now owns 71,968 shares of the company’s stock, valued at approximately $29,054,920.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nancy M. Taylor sold 300 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $415.81, for a total value of $124,743.00. Following the completion of the transaction, the director now owns 5,920 shares in the company, valued at approximately $2,461,595.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,340 shares of company stock valued at $3,407,994. Corporate insiders own 0.39% of the company’s stock.

TopBuild Company Profile

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.