21,832 Shares in Builders FirstSource, Inc. $BLDR Bought by SEB Asset Management AB

Key Points

• SEB Asset Management AB initiated a new position in Builders FirstSource, buying 21,832 shares worth about $1.8 million in the first quarter.
• Institutional ownership in BLDR remains very high at 95.53%, and several other hedge funds also increased their stakes during recent quarters.
• Builders FirstSource reported mixed quarterly results: EPS missed estimates at $0.27 versus $0.39 expected, while revenue came in above forecasts at $3.29 billion. The company also announced a $500 million stock buyback, and analysts currently rate the stock a consensus Hold with an average price target of $100.35.

SEB Asset Management AB purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,832 shares of the company's stock, valued at approximately $1,797,000.

Several other institutional investors and hedge funds have also made changes to their positions in BLDR. Integrated Wealth Concepts LLC lifted its position in shares of Builders FirstSource by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company's stock worth $432,000 after buying an additional 295 shares during the last quarter. Woodline Partners LP grew its position in shares of Builders FirstSource by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,723 shares of the company's stock valued at $1,215,000 after buying an additional 2,812 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Builders FirstSource by 180.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company's stock valued at $185,000 after buying an additional 1,017 shares during the last quarter. Baird Financial Group Inc. raised its stake in Builders FirstSource by 230.7% during the 2nd quarter. Baird Financial Group Inc. now owns 18,942 shares of the company's stock worth $2,210,000 after acquiring an additional 13,215 shares in the last quarter. Finally, Jump Financial LLC raised its stake in Builders FirstSource by 144.1% during the 2nd quarter. Jump Financial LLC now owns 7,223 shares of the company's stock worth $843,000 after acquiring an additional 4,264 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLDR shares. Wolfe Research raised Builders FirstSource to a "hold" rating in a report on Thursday, May 14th. UBS Group cut their price target on Builders FirstSource from $143.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Stephens reduced their price objective on Builders FirstSource from $125.00 to $100.00 and set an "equal weight" rating for the company in a research note on Monday, April 27th. DA Davidson set a $100.00 price objective on Builders FirstSource in a report on Thursday. Finally, Robert W. Baird lowered their target price on shares of Builders FirstSource from $125.00 to $95.00 in a research report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $100.35.

Builders FirstSource Stock Down 0.7%

Shares of NYSE:BLDR opened at $70.53 on Friday. Builders FirstSource, Inc. has a fifty-two week low of $65.10 and a fifty-two week high of $151.03. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The firm's 50-day simple moving average is $77.06 and its 200-day simple moving average is $91.47. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.69 and a beta of 1.42.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings data 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 for 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%.The company's revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.51 EPS. As a group, equities research analysts predict that Builders FirstSource, Inc. will post 4.29 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has initiated a stock buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

About Builders FirstSource

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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