Bessemer Group Inc. Acquires 214,391 Shares of Builders FirstSource, Inc. (NYSE:BLDR)

Bessemer Group Inc. raised its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 53.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 612,618 shares of the company’s stock after acquiring an additional 214,391 shares during the quarter. Bessemer Group Inc.’s holdings in Builders FirstSource were worth $76,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BLDR. SBI Securities Co. Ltd. purchased a new position in shares of Builders FirstSource in the fourth quarter valued at $34,000. Sentry Investment Management LLC bought a new position in Builders FirstSource in the 1st quarter worth about $40,000. CX Institutional bought a new position in Builders FirstSource in the 1st quarter worth about $45,000. Smartleaf Asset Management LLC grew its holdings in Builders FirstSource by 34.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock valued at $74,000 after buying an additional 134 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Builders FirstSource during the fourth quarter valued at about $74,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling

In other news, Director Paul S. Levy bought 283,517 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the completion of the acquisition, the director now owns 1,672,687 shares of the company’s stock, valued at approximately $186,019,521.27. This trade represents a 20.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dirkson R. Charles bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was purchased at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $548,350. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 505,000 shares of company stock worth $56,032,120 in the last 90 days. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BLDR has been the subject of a number of analyst reports. Stephens cut their price objective on shares of Builders FirstSource from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Barclays cut their price target on shares of Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Loop Capital decreased their price target on shares of Builders FirstSource from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wedbush dropped their price objective on Builders FirstSource from $190.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, June 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a research report on Tuesday, April 1st. They set a “buy” rating and a $151.00 target price for the company. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $163.11.

Builders FirstSource Stock Performance

NYSE:BLDR opened at $116.05 on Thursday. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 7.57 and a beta of 1.69. The business has a 50 day moving average of $113.71 and a 200 day moving average of $133.53. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07. Builders FirstSource, Inc. has a 1-year low of $102.60 and a 1-year 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. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm posted $2.65 earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Builders FirstSource 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.