Bank of New York Mellon Corp Has $116.61 Million Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Bank of New York Mellon Corp lessened its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 933,331 shares of the company's stock after selling 148,919 shares during the quarter. 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 institutional investors have also recently added to or reduced their stakes in BLDR. SBI Securities Co. Ltd. bought a new stake in shares of Builders FirstSource during the 4th quarter worth about $34,000. Sentry Investment Management LLC bought a new stake in Builders FirstSource during the first quarter worth approximately $40,000. CX Institutional acquired a new position in Builders FirstSource during the first quarter valued at approximately $45,000. New Age Alpha Advisors LLC bought a new position in shares of Builders FirstSource in the fourth quarter valued at approximately $74,000. Finally, AlphaQuest LLC raised its position in shares of Builders FirstSource by 5,227.3% in the fourth quarter. AlphaQuest LLC now owns 586 shares of the company's stock valued at $84,000 after purchasing an additional 575 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays lowered their target price on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Stifel Nicolaus dropped their price objective on Builders FirstSource from $125.00 to $118.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Loop Capital decreased their target price on Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Oppenheimer dropped their price target on Builders FirstSource from $165.00 to $155.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Raymond James Financial reiterated an "outperform" rating and set a $140.00 price target (down from $170.00) on shares of Builders FirstSource in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Builders FirstSource has a consensus rating of "Moderate Buy" and an average price target of $159.42.

Insider Activity

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

Builders FirstSource Price Performance

Shares of Builders FirstSource stock traded up $2.24 during mid-day trading on Thursday, reaching $135.24. 2,793,014 shares of the stock were exchanged, compared to its average volume of 1,729,782. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 8.10 and a beta of 1.69. The firm has a 50-day simple moving average of $114.88 and a 200 day simple moving average of $130.89. The company has a current ratio of 1.82, a quick ratio of 1.07 and a debt-to-equity ratio of 1.02. Builders FirstSource, Inc. has a fifty-two week low of $102.60 and a fifty-two week high of $203.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. Builders FirstSource had a return on equity of 28.02% and a net margin of 5.66%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the company earned $2.65 EPS. Builders FirstSource's revenue for the quarter was down 6.0% on a year-over-year basis. On average, sell-side analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a share buyback plan on Thursday, May 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

About Builders FirstSource

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.