Builders FirstSource, Inc. $BLDR Shares Acquired by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in Builders FirstSource, Inc. by 5.8%, now owning 102,635 shares worth approximately $12.8 million.
• Builders FirstSource reported earnings of $2.38 per share, surpassing analysts' expectations, but experienced a 5% decline in year-over-year revenue.
• The company's board has initiated a $500 million stock buyback plan, indicating confidence in the stock's undervaluation.

1832 Asset Management L.P. lifted its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,635 shares of the company's stock after purchasing an additional 5,633 shares during the quarter. 1832 Asset Management L.P. owned about 0.09% of Builders FirstSource worth $12,823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLDR. Ameriprise Financial Inc. raised its position in Builders FirstSource by 5.6% during the 1st quarter. Ameriprise Financial Inc. now owns 610,317 shares of the company's stock worth $76,256,000 after buying an additional 32,202 shares during the last quarter. Norinchukin Bank The increased its stake in shares of Builders FirstSource by 15.3% in the first quarter. Norinchukin Bank The now owns 6,204 shares of the company's stock worth $775,000 after acquiring an additional 824 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Builders FirstSource by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 291,247 shares of the company's stock worth $36,390,000 after purchasing an additional 856 shares during the last quarter. Candriam S.C.A. lifted its position in Builders FirstSource by 9.7% during the first quarter. Candriam S.C.A. now owns 36,857 shares of the company's stock valued at $4,605,000 after purchasing an additional 3,244 shares during the period. Finally, TFB Advisors LLC lifted its position in Builders FirstSource by 4.8% during the first quarter. TFB Advisors LLC now owns 4,004 shares of the company's stock valued at $500,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Insider Buying and Selling

In other news, Director Dirkson R. Charles purchased 5,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were bought at an average cost 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 of the company's stock, valued at approximately $548,350. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by company insiders.

Builders FirstSource Stock Performance

NYSE BLDR opened at $144.46 on Friday. Builders FirstSource, Inc. has a twelve month low of $102.60 and a twelve month high of $203.14. The stock has a market cap of $15.97 billion, a PE ratio of 21.92, a P/E/G ratio of 15.30 and a beta of 1.68. The stock has a fifty day simple moving average of $127.70 and a 200-day simple moving average of $125.61. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.35 by $0.03. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.29 billion. Builders FirstSource had a net margin of 4.74% and a return on equity of 24.61%. The business's revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.50 EPS. Builders FirstSource has set its FY 2025 guidance at EPS. Equities analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource announced that its board has initiated a stock buyback plan on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

BLDR has been the subject of a number of recent research reports. DA Davidson reduced their price objective on Builders FirstSource from $135.00 to $125.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Wedbush dropped their target price on Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, June 20th. Baird R W downgraded Builders FirstSource from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Royal Bank Of Canada downgraded shares of Builders FirstSource from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $132.00 to $129.00 in a report on Friday, August 1st. Finally, Oppenheimer set a $155.00 price target on Builders FirstSource and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $154.44.

Builders FirstSource 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.