Builders FirstSource, Inc. $BLDR Shares Bought by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its stake in Builders FirstSource by 9.7%, acquiring an additional 3,244 shares, bringing its total holdings to 36,857 shares, valued at $4.6 million.
• Builders FirstSource reported earnings of $2.38 per share for the last quarter, exceeding estimates, but experienced a 5% year-over-year decline in quarterly revenue.
• The company has authorized a stock repurchase program worth $500 million, allowing it to buy back up to 3.9% of its shares, signaling management's belief that the stock is undervalued.

Candriam S.C.A. lifted its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,857 shares of the company's stock after purchasing an additional 3,244 shares during the period. Candriam S.C.A.'s holdings in Builders FirstSource were worth $4,605,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Builders FirstSource by 42.6% during the 1st quarter. Wellington Management Group LLP now owns 3,217,125 shares of the company's stock valued at $401,948,000 after acquiring an additional 960,603 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Builders FirstSource by 11.8% during the 1st quarter. Invesco Ltd. now owns 2,519,461 shares of the company's stock worth $314,781,000 after buying an additional 265,873 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Builders FirstSource by 16.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,270,362 shares of the company's stock worth $283,659,000 after buying an additional 326,923 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Builders FirstSource by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,244,449 shares of the company's stock valued at $280,387,000 after buying an additional 6,453 shares during the period. Finally, Northern Trust Corp lifted its holdings in Builders FirstSource by 10.2% in the fourth quarter. Northern Trust Corp now owns 1,139,775 shares of the company's stock valued at $162,908,000 after acquiring an additional 105,158 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Builders FirstSource Stock Down 1.6%

NYSE:BLDR traded down $2.22 during midday trading on Thursday, reaching $139.54. The company had a trading volume of 468,071 shares, compared to its average volume of 1,969,708. The stock's fifty day simple moving average is $129.70 and its 200-day simple moving average is $125.53. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 15.11 and a beta of 1.68. Builders FirstSource, Inc. has a 12-month low of $102.60 and a 12-month high of $203.14. 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 EPS for the quarter, beating the consensus estimate of $2.35 by $0.03. The firm had revenue of $4.23 billion during 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%. Builders FirstSource's revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.50 EPS. Builders FirstSource has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

BLDR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $134.00 target price on shares of Builders FirstSource in a research note on Friday, August 1st. Wedbush reduced their price objective on shares of Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, June 20th. Oppenheimer set a $155.00 target price on shares of Builders FirstSource and gave the company an "outperform" rating in a research report on Thursday, July 10th. Stephens reduced their price target on shares of Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, Barclays lowered their price objective on shares of Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Eleven 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.