Cullen Frost Bankers Inc. decreased its holdings in Builders FirstSource, Inc. (NYSE:BLDR – Free Report) by 17.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,691 shares of the company’s stock after selling 9,550 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Builders FirstSource were worth $4,495,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Schwartz Investment Counsel Inc. raised its position in Builders FirstSource by 17.1% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 95,800 shares of the company’s stock worth $9,857,000 after acquiring an additional 14,000 shares during the period. Candriam S.C.A. grew its position in shares of Builders FirstSource by 28.9% in the third quarter. Candriam S.C.A. now owns 53,085 shares of the company’s stock valued at $6,437,000 after purchasing an additional 11,891 shares during the period. Eagle Global Advisors LLC increased its stake in shares of Builders FirstSource by 46.3% during the fourth quarter. Eagle Global Advisors LLC now owns 60,242 shares of the company’s stock worth $6,198,000 after purchasing an additional 19,062 shares in the last quarter. Strs Ohio increased its stake in shares of Builders FirstSource by 24.0% during the third quarter. Strs Ohio now owns 118,594 shares of the company’s stock worth $14,380,000 after purchasing an additional 22,926 shares in the last quarter. Finally, Fieldview Capital Management LLC acquired a new position in shares of Builders FirstSource during the 3rd quarter worth about $2,944,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Insider Activity at Builders FirstSource
In related news, Director Paul S. Levy acquired 50,000 shares of Builders FirstSource stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the completion of the transaction, the director owned 1,727,191 shares in the company, valued at $151,526,466.43. This represents a 2.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.70% of the company’s stock.
Builders FirstSource Stock Up 3.8%
Builders FirstSource (NYSE:BLDR – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the business earned $1.51 earnings per share. As a group, sell-side analysts predict that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.
Builders FirstSource announced that its Board of Directors has initiated a share repurchase program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of brokerages recently weighed in on BLDR. Truist Financial decreased their price target on shares of Builders FirstSource from $145.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. William Blair assumed coverage on Builders FirstSource in a report on Thursday, February 26th. They set an “outperform” rating for the company. DA Davidson decreased their target price on Builders FirstSource from $111.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. The Goldman Sachs Group lowered their price target on Builders FirstSource from $110.00 to $101.00 in a research note on Friday, May 1st. Finally, Loop Capital dropped their price target on Builders FirstSource from $140.00 to $110.00 in a research report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.88.
Read Our Latest Analysis on Builders FirstSource
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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