Bessemer Group Inc. Raises Position in Builders FirstSource, Inc. $BLDR

Key Points

• Bessemer Group Inc. increased its stake in Builders FirstSource by 5.4% in the first quarter, bringing its holdings to 528,056 shares worth about $43.47 million.
• Builders FirstSource reported mixed quarterly results: earnings of $0.27 per share missed estimates, while revenue of $3.29 billion came in above expectations but was still down 10.1% year over year.
• The company’s board approved a $500 million share buyback, while analysts currently rate the stock a consensus "Hold" with an average price target of $101.45.

Bessemer Group Inc. raised its position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 528,056 shares of the company's stock after acquiring an additional 27,037 shares during the quarter. Bessemer Group Inc. owned approximately 0.49% of Builders FirstSource worth $43,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLDR. Cromwell Holdings LLC boosted its holdings in shares of Builders FirstSource by 1,323.5% during the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company's stock valued at $25,000 after buying an additional 225 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position 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 worth $26,000 after buying an additional 132 shares during the period. Root Financial Partners LLC increased its stake in shares of Builders FirstSource by 43.6% in the 1st quarter. Root Financial Partners LLC now owns 372 shares of the company's stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Transamerica Financial Advisors LLC increased its stake in shares of Builders FirstSource by 90.2% in 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 in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Builders FirstSource during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLDR. Benchmark decreased their target price on shares of Builders FirstSource from $138.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Robert W. Baird dropped their price target on Builders FirstSource from $125.00 to $95.00 in a research report on Friday, May 1st. UBS Group cut their price target on Builders FirstSource from $143.00 to $122.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Builders FirstSource from $102.00 to $81.00 and set a "hold" rating for the company in a research report on Monday, May 4th. Finally, Bank of America lowered their price objective on Builders FirstSource from $123.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $101.45.

Builders FirstSource Stock Down 5.1%

BLDR opened at $74.23 on Friday. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.87 and a beta of 1.42. The firm has a 50 day moving average price of $77.24 and a 200-day moving average price of $92.46. Builders FirstSource, Inc. has a twelve month low of $65.10 and a twelve month high of $151.03. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.12). The business had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. Builders FirstSource's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.51 EPS. Equities research analysts forecast that Builders FirstSource, Inc. will post 4.29 earnings per share for the current year.

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

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.

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.