Heartland Advisors Inc. bought a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor bought 51,134 shares of the company’s stock, valued at approximately $4,575,000.
Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Builders FirstSource during the 2nd quarter worth approximately $700,934,000. Northwestern Mutual Wealth Management Co. lifted its holdings 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 buying an additional 2,239,301 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Builders FirstSource in the second quarter valued at approximately $134,908,000. Norges Bank acquired a new stake in Builders FirstSource during the 4th quarter worth $109,269,000. Finally, Boston Partners raised its position in shares of Builders FirstSource by 73.0% during the 3rd quarter. Boston Partners now owns 1,852,292 shares of the company’s stock valued at $224,627,000 after acquiring an additional 781,506 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Truist Financial reduced their price target on Builders FirstSource from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Royal Bank Of Canada reduced their target price on Builders FirstSource from $107.00 to $88.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Stifel Nicolaus lowered their price target on Builders FirstSource from $76.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Wells Fargo & Company reduced their price objective on shares of Builders FirstSource from $85.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Finally, KeyCorp decreased their price objective on shares of Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Builders FirstSource presently has an average rating of “Hold” and a consensus target price of $90.35.
Builders FirstSource Price Performance
Shares of BLDR opened at $70.02 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79. The stock has a 50 day simple moving average of $75.97 and a 200 day simple moving average of $84.59. Builders FirstSource, Inc. has a 52-week low of $65.10 and a 52-week high of $151.03. The firm has a market capitalization of $7.53 billion, a PE ratio of 76.95, a P/E/G ratio of 2.28 and a beta of 1.44.
Builders FirstSource (NYSE:BLDR – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the previous year, the company posted $2.38 earnings per share. Builders FirstSource’s revenue for the quarter was down 8.8% compared to the same quarter last year. Sell-side analysts predict that Builders FirstSource, Inc. will post 3.15 EPS for the current fiscal year.
Builders FirstSource announced that its board has approved a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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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