Bank of New York Mellon Corp Makes New Investment in Builders FirstSource, Inc. $BLDR

Key Points

• Bank of New York Mellon purchased 554,604 shares of Builders FirstSource, valued at approximately $49.6 million, giving it a 0.52% stake. Institutional investors collectively own 95.53% of the company.
• Builders FirstSource reported quarterly EPS of $1.17, below the $1.25 consensus estimate, while revenue fell 8.8% year over year to $3.86 billion. The company also authorized a $500 million share-buyback program.
• Analysts maintain a consensus “Hold” rating, with a $90.35 average price target; BLDR recently traded at $67.29 after reaching a 52-week range of $65.10 to $151.03.

Bank of New York Mellon Corp purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 554,604 shares of the company's stock, valued at approximately $49,626,000. Bank of New York Mellon Corp owned approximately 0.52% of Builders FirstSource as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in Builders FirstSource by 99,084.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company's stock worth $230,634,000 after purchasing an additional 2,239,301 shares in the last quarter. Norges Bank acquired a new stake in shares of Builders FirstSource in the 4th quarter valued at about $109,269,000. Boston Partners lifted its holdings in shares of Builders FirstSource by 73.0% in the third quarter. Boston Partners now owns 1,852,292 shares of the company's stock valued at $224,627,000 after purchasing an additional 781,506 shares in the last quarter. Coliseum Capital Management LLC bought a new stake in shares of Builders FirstSource in the fourth quarter valued at about $80,321,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Builders FirstSource by 37.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,641,809 shares of the company's stock worth $271,816,000 after buying an additional 725,905 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Price Performance

NYSE:BLDR opened at $67.29 on Friday. Builders FirstSource, Inc. has a 1-year low of $65.10 and a 1-year high of $151.03. 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 fifty day simple moving average of $75.22 and a 200 day simple moving average of $82.90. The stock has a market capitalization of $7.24 billion, a PE ratio of 73.94, a P/E/G ratio of 2.23 and a beta of 1.44.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted 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 firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The business's revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted $2.38 earnings per share. On average, research analysts expect that Builders FirstSource, Inc. will post 3.15 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus dropped their target price on Builders FirstSource from $76.00 to $70.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. Benchmark reduced their price target on Builders FirstSource from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft set a $66.00 price target on shares of Builders FirstSource in a research note on Friday, July 31st. Robert W. Baird set a $75.00 price objective on shares of Builders FirstSource in a report on Friday, July 31st. Finally, UBS Group cut their price objective on shares of Builders FirstSource from $122.00 to $88.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $90.35.

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.

Want to see what other hedge funds are holding BLDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Builders FirstSource, Inc. (NYSE:BLDR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source