Bank of America Corp DE Has $72.87 Million Stock Position in Builders FirstSource, Inc. $BLDR

Key Points

• Bank of America reduced its Builders FirstSource stake by 7% in the first quarter, selling 66,497 shares and retaining 885,081 shares valued at approximately $72.87 million.
• Builders FirstSource reported quarterly EPS of $1.17, below the $1.25 analyst consensus, while revenue fell 8.8% year over year to $3.86 billion. The stock opened at $74.76, near its 52-week low.
• The company authorized a $500 million share-repurchase program, allowing it to buy back up to 5.4% of outstanding shares. Analysts have a consensus “Hold” rating and an average price target of $90.35.

Bank of America Corp DE lowered its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 885,081 shares of the company's stock after selling 66,497 shares during the quarter. Bank of America Corp DE owned about 0.82% of Builders FirstSource worth $72,869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BLDR. Caitong International Asset Management Co. Ltd raised its stake in shares of Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock valued at $26,000 after purchasing an additional 132 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Builders FirstSource by 508.5% during the first quarter. Sunbelt Securities Inc. now owns 359 shares of the company's stock worth $30,000 after buying an additional 300 shares in the last quarter. Root Financial Partners LLC lifted its stake in Builders FirstSource by 43.6% in the 1st quarter. Root Financial Partners LLC now owns 372 shares of the company's stock valued at $31,000 after acquiring an additional 113 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in Builders FirstSource by 90.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company's stock worth $38,000 after acquiring an additional 175 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in Builders FirstSource during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Stock Up 0.1%

BLDR stock opened at $74.76 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $8.04 billion, a PE ratio of 82.15, a PEG ratio of 2.42 and a beta of 1.44. Builders FirstSource, Inc. has a 1-year low of $65.10 and a 1-year high of $151.03. The business's 50 day simple moving average is $76.77 and its 200 day simple moving average is $87.75.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The company's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.38 EPS. As a group, research analysts anticipate that Builders FirstSource, Inc. will post 3.15 EPS for the current year.

Builders FirstSource declared that its Board of Directors has approved a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BLDR. Bank of America lowered their price objective on shares of Builders FirstSource from $123.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Barclays lowered their price target on shares of Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Jefferies Financial Group reduced their price objective on shares of Builders FirstSource from $85.00 to $80.00 and set a "hold" rating for the company in a research note on Monday, May 4th. Wolfe Research raised Builders FirstSource to a "hold" rating in a research report on Thursday, May 14th. Finally, The Goldman Sachs Group reduced their price target on Builders FirstSource from $110.00 to $101.00 in a research report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Builders FirstSource has an average rating of "Hold" and a consensus price target of $90.35.

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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