Builders FirstSource, Inc. $BLDR Shares Acquired by Diamond Hill Capital Management Inc.

Key Points

• Diamond Hill Capital Management increased its Builders FirstSource stake by 13.4% in the fourth quarter, buying 221,641 more shares and ending with 1.87 million shares valued at about $192.7 million.
• The company posted mixed quarterly results, with earnings per share of $0.27 missing estimates while revenue of $3.29 billion came in above forecasts, though revenue still fell 10.1% from a year earlier.
• Builders FirstSource's board authorized a $500 million share buyback, and the stock has drawn mixed analyst sentiment with a consensus rating of Hold and a price target of $101.88.

Diamond Hill Capital Management Inc. grew its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,872,708 shares of the company's stock after acquiring an additional 221,641 shares during the quarter. Diamond Hill Capital Management Inc. owned 1.69% of Builders FirstSource worth $192,683,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BLDR. Integrated Wealth Concepts LLC boosted its holdings in Builders FirstSource by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company's stock worth $432,000 after acquiring an additional 295 shares in the last quarter. Woodline Partners LP raised its stake in shares of Builders FirstSource by 40.7% in the first quarter. Woodline Partners LP now owns 9,723 shares of the company's stock worth $1,215,000 after purchasing an additional 2,812 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Builders FirstSource by 180.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company's stock worth $185,000 after purchasing an additional 1,017 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Builders FirstSource by 230.7% in the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company's stock worth $2,210,000 after purchasing an additional 13,215 shares during the last quarter. Finally, Jump Financial LLC raised its stake in shares of Builders FirstSource by 144.1% in the second quarter. Jump Financial LLC now owns 7,223 shares of the company's stock worth $843,000 after purchasing an additional 4,264 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analyst Weigh In

BLDR has been the subject of several research analyst reports. Zacks Research cut Builders FirstSource from a "hold" rating to a "strong sell" rating in a research note on Friday, May 1st. KeyCorp reduced their price objective on Builders FirstSource from $145.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Truist Financial reduced their price objective on Builders FirstSource from $145.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. UBS Group reduced their price objective on Builders FirstSource from $143.00 to $122.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Finally, 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 note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, Builders FirstSource currently has a consensus rating of "Hold" and a consensus price target of $101.88.

Builders FirstSource Stock Up 3.8%

Shares of BLDR stock opened at $73.91 on Friday. The stock has a 50 day moving average of $82.19 and a 200 day moving average of $100.41. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. The stock has a market cap of $7.95 billion, a P/E ratio of 28.32, a P/E/G ratio of 1.71 and a beta of 1.49. Builders FirstSource, Inc. has a twelve month low of $65.10 and a twelve month high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.12). The company 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%. The firm's revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 earnings per share. As a group, sell-side analysts expect that Builders FirstSource, Inc. will post 4.26 EPS for the current year.

Builders FirstSource declared that its board has authorized a share buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Paul S. Levy acquired 50,000 shares of the business's stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $87.73 per share, for a total transaction of $4,386,500.00. Following the completion of the transaction, the director directly owned 1,727,191 shares of the company's stock, valued at $151,526,466.43. This represents a 2.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

Builders FirstSource 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.

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