BlackRock Inc. Makes New $700.93 Million Investment in Builders FirstSource, Inc. $BLDR

BlackRock Inc. purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,833,417 shares of the company's stock, valued at approximately $700,934,000. BlackRock Inc. owned 7.28% of Builders FirstSource as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in Builders FirstSource by 2.3% during the 4th quarter. State Street Corp now owns 5,108,120 shares of the company's stock valued at $525,574,000 after purchasing an additional 115,857 shares during the last quarter. Wellington Management Group LLP boosted its stake in Builders FirstSource by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 3,316,797 shares of the company's stock valued at $341,265,000 after buying an additional 73,835 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Builders FirstSource by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company's stock worth $244,301,000 after purchasing an additional 325,935 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Builders FirstSource by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,817,958 shares of the company's stock valued at $288,789,000 after acquiring an additional 14,420 shares in the last quarter. Finally, Sands Capital Management LLC raised its position in Builders FirstSource by 13.5% in the fourth quarter. Sands Capital Management LLC now owns 2,757,969 shares of the company's stock valued at $283,767,000 after purchasing an additional 327,067 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Builders FirstSource Stock Down 0.4%

Shares of Builders FirstSource stock opened at $70.02 on Friday. Builders FirstSource, Inc. has a 12-month low of $65.10 and a 12-month high of $151.03. The company has a market cap of $7.53 billion, a P/E ratio of 76.95, a PEG ratio of 2.28 and a beta of 1.44. The company's fifty day simple moving average is $75.97 and its two-hundred day simple moving average is $84.59. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14.

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

Builders FirstSource announced that its board has initiated a stock repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

BLDR has been the subject of several research analyst reports. Jefferies Financial Group lowered their price objective on Builders FirstSource from $85.00 to $80.00 and set a "hold" rating for the company in a research report on Monday, May 4th. Robert W. Baird set a $75.00 price objective on Builders FirstSource in a research note on Friday, July 31st. Stifel Nicolaus dropped their price objective on Builders FirstSource from $76.00 to $70.00 and set a "hold" rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings downgraded shares of Builders FirstSource from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, July 21st. Finally, Citizens Jmp began coverage on Builders FirstSource in a research note on Friday. They issued a "market perform" rating for the company. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Builders FirstSource presently has a consensus rating of "Hold" and an average price target of $90.35.

About Builders FirstSource

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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