Bank of New York Mellon Corp Reduces Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Bank of New York Mellon Corp cut its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 13.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 933,331 shares of the company's stock after selling 148,919 shares during the period. Bank of New York Mellon Corp owned approximately 0.82% of Builders FirstSource worth $116,610,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. World Investment Advisors grew its position in shares of Builders FirstSource by 75.2% in the first quarter. World Investment Advisors now owns 4,295 shares of the company's stock valued at $537,000 after purchasing an additional 1,843 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Builders FirstSource in the first quarter valued at approximately $95,000. IFM Investors Pty Ltd grew its position in shares of Builders FirstSource by 12.0% in the first quarter. IFM Investors Pty Ltd now owns 25,565 shares of the company's stock valued at $3,194,000 after purchasing an additional 2,743 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Builders FirstSource in the first quarter valued at approximately $489,000. Finally, OneDigital Investment Advisors LLC grew its position in shares of Builders FirstSource by 54.5% in the first quarter. OneDigital Investment Advisors LLC now owns 2,223 shares of the company's stock valued at $278,000 after purchasing an additional 784 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Trading Up 4.8%

NYSE:BLDR opened at $133.36 on Thursday. The business's 50-day moving average is $114.88 and its two-hundred day moving average is $130.89. The firm has a market capitalization of $14.74 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 8.10 and a beta of 1.69. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. The company had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.67 billion. Builders FirstSource had a return on equity of 28.02% and a net margin of 5.66%. The firm's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 earnings per share. Research analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

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

Insider Transactions at Builders FirstSource

In related news, Director Dirkson R. Charles acquired 5,000 shares of Builders FirstSource stock in a transaction on Tuesday, May 27th. The shares were bought at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at $548,350. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Levy purchased 283,517 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $111.21 per share, for a total transaction of $31,529,925.57. Following the purchase, the director owned 1,672,687 shares of the company's stock, valued at approximately $186,019,521.27. This represents a 20.41% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 505,000 shares of company stock worth $56,032,120. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (down from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. Robert W. Baird set a $130.00 price objective on Builders FirstSource in a report on Friday, May 2nd. UBS Group decreased their price objective on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a report on Tuesday, April 1st. They set a "buy" rating and a $151.00 price objective on the stock. Finally, Stifel Nicolaus decreased their price objective on Builders FirstSource from $125.00 to $118.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $163.11.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.