Builders FirstSource, Inc. (NYSE:BLDR) Holdings Lowered by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 26.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 333,105 shares of the company’s stock after selling 117,588 shares during the period. Bank of America Corp DE’s holdings in Builders FirstSource were worth $47,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLDR. Norges Bank acquired a new position in shares of Builders FirstSource in the 4th quarter worth approximately $199,890,000. Voya Investment Management LLC grew its stake in shares of Builders FirstSource by 174.2% in the 4th quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company’s stock worth $202,374,000 after purchasing an additional 899,841 shares during the last quarter. FMR LLC grew its stake in shares of Builders FirstSource by 7.3% in the 4th quarter. FMR LLC now owns 10,898,366 shares of the company’s stock worth $1,557,703,000 after purchasing an additional 740,214 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Builders FirstSource by 15,533.9% in the 4th quarter. Proficio Capital Partners LLC now owns 649,903 shares of the company’s stock worth $92,891,000 after purchasing an additional 645,746 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Builders FirstSource by 47.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company’s stock worth $277,776,000 after purchasing an additional 623,583 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Stock Performance

BLDR stock opened at $119.37 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 1.77. The stock has a market cap of $13.19 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.80 and a beta of 1.79. The firm has a 50 day simple moving average of $121.20 and a 200 day simple moving average of $147.38. Builders FirstSource, Inc. has a 52 week low of $103.81 and a 52 week high of $203.14.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Builders FirstSource had a net margin of 6.57% and a return on equity of 30.54%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company posted $2.65 earnings per share. Research analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a stock repurchase program on Thursday, May 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BLDR shares. Benchmark lowered their price objective on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada lowered their price objective on shares of Builders FirstSource from $162.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Barclays lowered their price objective on shares of Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Builders FirstSource in a research report on Tuesday, April 1st. They issued a “buy” rating and a $151.00 target price on the stock. Finally, Truist Financial dropped their target price on shares of Builders FirstSource from $220.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $167.58.

Builders FirstSource Company 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.