1,061,995 Shares in Builders FirstSource, Inc. $BLDR Acquired by Norges Bank

Key Points

• Norges Bank disclosed a new position in Builders FirstSource, buying 1,061,995 shares valued at about $109.3 million, which gave it roughly 0.96% ownership of the company.
• Insider activity also stood out: director Paul S. Levy purchased 50,000 shares for about $4.39 million, increasing his holdings by nearly 3%.
• Builders FirstSource reported mixed quarterly results and announced a $500 million share buyback. The company missed EPS expectations but beat revenue estimates, while analysts have trimmed price targets and currently rate the stock a Hold on average.

Norges Bank acquired a new position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,061,995 shares of the company's stock, valued at approximately $109,269,000. Norges Bank owned about 0.96% of Builders FirstSource at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock worth $26,000 after purchasing an additional 132 shares during the last quarter. Cromwell Holdings LLC raised its position in Builders FirstSource by 1,323.5% in the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company's stock worth $25,000 after purchasing an additional 225 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in Builders FirstSource in the 3rd quarter worth approximately $34,000. CYBER HORNET ETFs LLC bought a new stake in shares of Builders FirstSource during the 2nd quarter valued at $38,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Builders FirstSource during the 2nd quarter valued at $38,000. Institutional investors own 95.53% of the company's stock.

Insiders Place Their Bets

In related news, Director Paul S. Levy bought 50,000 shares of Builders FirstSource stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $87.73 per share, with a total value of $4,386,500.00. Following the purchase, the director owned 1,727,191 shares in the company, valued at approximately $151,526,466.43. This trade represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company's stock.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $74.93 on Friday. The firm has a market cap of $8.06 billion, a PE ratio of 28.71, a PEG ratio of 1.78 and a beta of 1.44. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. Builders FirstSource, Inc. has a 1-year low of $65.10 and a 1-year high of $151.03. The company has a fifty day moving average price of $79.97 and a 200 day moving average price of $98.12.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced 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 company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.17 billion. Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.Builders FirstSource's revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. Research analysts predict that Builders FirstSource, Inc. will post 4.26 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has approved a share buyback program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Builders FirstSource from $87.00 to $85.00 and set an "equal weight" rating for the company in a research report on Friday, May 1st. Raymond James Financial dropped their target price on shares of Builders FirstSource from $140.00 to $100.00 in a research report on Friday, May 1st. Benchmark dropped their target price on shares of Builders FirstSource from $138.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Stifel Nicolaus dropped their target price on shares of Builders FirstSource from $115.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, March 16th. Finally, Barclays dropped their target price on shares of Builders FirstSource from $114.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $101.88.

Builders FirstSource 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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