Allstate Corp Increases Stake in Builders FirstSource, Inc. $BLDR

Key Points

• Allstate Corp has increased its stake in Builders FirstSource, Inc. by 82.9% this quarter, owning 6,183 shares worth approximately $773,000.
• A total of 95.53% of Builders FirstSource's stock is owned by institutional investors and hedge funds, indicating strong institutional interest.
• Builders FirstSource recently initiated a $500 million share buyback program, suggesting that its board views the stock as undervalued.

Allstate Corp boosted its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 82.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,183 shares of the company's stock after purchasing an additional 2,803 shares during the period. Allstate Corp's holdings in Builders FirstSource were worth $773,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new position in shares of Builders FirstSource during the 1st quarter valued at $31,000. Sentry Investment Management LLC purchased a new stake in Builders FirstSource during the first quarter valued at $40,000. CX Institutional purchased a new stake in Builders FirstSource during the first quarter valued at $45,000. Mather Group LLC. lifted its holdings in Builders FirstSource by 19.7% in the first quarter. Mather Group LLC. now owns 595 shares of the company's stock valued at $74,000 after acquiring an additional 98 shares during the period. Finally, New Age Alpha Advisors LLC boosted its position in Builders FirstSource by 22.8% in the first quarter. New Age Alpha Advisors LLC now owns 640 shares of the company's stock worth $80,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $134.00 price target on shares of Builders FirstSource in a research note on Friday, August 1st. Zelman & Associates restated an "underperform" rating on shares of Builders FirstSource in a research report on Friday, July 18th. UBS Group reduced their target price on shares of Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Oppenheimer set a $155.00 price target on shares of Builders FirstSource and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, 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. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $154.44.

Builders FirstSource Price Performance

Shares of BLDR traded down $1.62 during mid-day trading on Friday, reaching $138.52. The stock had a trading volume of 890,296 shares, compared to its average volume of 1,970,985. The business has a fifty day moving average of $130.37 and a 200 day moving average of $125.42. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.08 and a current ratio of 1.79. The firm has a market cap of $15.31 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 15.01 and a beta of 1.68. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.35 by $0.03. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.29 billion. Builders FirstSource had a net margin of 4.74% and a return on equity of 24.61%. Builders FirstSource's revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.50 EPS. Builders FirstSource has set its FY 2025 guidance at EPS. Equities analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource declared that its board has authorized a share repurchase program on Thursday, May 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Builders FirstSource Company 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.