DNB Asset Management AS raised its position in Builders FirstSource, Inc. (NYSE:BLDR – Free Report) by 89.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 106,715 shares of the company’s stock after buying an additional 50,355 shares during the quarter. DNB Asset Management AS’s holdings in Builders FirstSource were worth $10,980,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in BLDR. Capital International Investors bought a new position in Builders FirstSource in the third quarter valued at approximately $429,640,000. Northwestern Mutual Wealth Management Co. grew its position in Builders FirstSource by 99,084.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company’s stock valued at $230,634,000 after acquiring an additional 2,239,301 shares during the last quarter. Franklin Resources Inc. grew its position in Builders FirstSource by 2,498.8% in the third quarter. Franklin Resources Inc. now owns 1,854,525 shares of the company’s stock valued at $224,861,000 after acquiring an additional 1,783,164 shares during the last quarter. Sands Capital Management LLC grew its position in Builders FirstSource by 139.1% in the third quarter. Sands Capital Management LLC now owns 2,430,902 shares of the company’s stock valued at $294,747,000 after acquiring an additional 1,414,129 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Builders FirstSource by 235.1% in the third quarter. Victory Capital Management Inc. now owns 1,893,483 shares of the company’s stock valued at $229,585,000 after acquiring an additional 1,328,363 shares during the last quarter. 95.53% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Truist Financial decreased their target price on Builders FirstSource from $145.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. William Blair initiated coverage on shares of Builders FirstSource in a research note on Thursday, February 26th. They set an “outperform” rating on the stock. Benchmark decreased their target price on shares of Builders FirstSource from $138.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Wolfe Research raised shares of Builders FirstSource to a “hold” rating in a research note on Thursday. Finally, Jefferies Financial Group lowered their price objective on Builders FirstSource from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $101.88.
Insider Buying and Selling
In other news, Director Paul S. Levy purchased 50,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $87.73 per share, with a total value of $4,386,500.00. Following the completion of the transaction, the director owned 1,727,191 shares of the company’s stock, valued at $151,526,466.43. The trade was a 2.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.
Builders FirstSource Stock Performance
Shares of BLDR stock opened at $70.24 on Monday. The business’s 50 day simple moving average is $84.10 and its 200 day simple moving average is $101.69. Builders FirstSource, Inc. has a one year low of $69.86 and a one year high of $151.03. The stock has a market capitalization of $7.55 billion, a PE ratio of 26.91, a PEG ratio of 1.69 and a beta of 1.49. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09.
Builders FirstSource (NYSE:BLDR – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.12). Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. As a group, research analysts forecast that Builders FirstSource, Inc. will post 4.26 earnings per share for the current year.
Builders FirstSource declared that its board has initiated a share repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Builders FirstSource Company Profile
Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.
The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.
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