Builders FirstSource, Inc. $BLDR Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management slightly increased its Builders FirstSource stake in the fourth quarter, adding 14,420 shares to bring its total to 2.82 million shares worth about $288.8 million.
• Company director Paul S. Levy bought 50,000 shares at $87.73 each, a purchase valued at about $4.39 million, signaling insider confidence despite recent stock weakness.
• Builders FirstSource reported mixed quarterly results: revenue topped estimates at $3.29 billion, but EPS of $0.27 missed expectations. The board also authorized a $500 million stock buyback, while analysts currently rate the stock a consensus Hold with an average target price of $101.88.

Geode Capital Management LLC grew its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,817,958 shares of the company's stock after purchasing an additional 14,420 shares during the period. Geode Capital Management LLC owned approximately 2.55% of Builders FirstSource worth $288,789,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cromwell Holdings LLC increased its holdings in shares of Builders FirstSource by 1,323.5% in the fourth quarter. Cromwell Holdings LLC now owns 242 shares of the company's stock valued at $25,000 after purchasing an additional 225 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Builders FirstSource by 167.1% in the third 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 last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Builders FirstSource in the third quarter worth about $34,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Builders FirstSource in the second quarter worth about $38,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Builders FirstSource in the second quarter worth about $38,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Builders FirstSource news, Director Paul S. Levy bought 50,000 shares of the business's stock in a transaction on Friday, March 13th. The stock was bought at an average price of $87.73 per share, with a total value of $4,386,500.00. Following the completion of the purchase, the director directly owned 1,727,191 shares in the company, valued at $151,526,466.43. The trade was a 2.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.70% of the company's stock.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $75.71 on Tuesday. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.83 and a beta of 1.45. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. The business's 50 day moving average price is $80.47 and its 200 day moving average price is $98.74.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.12). Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The company had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.17 billion. During the same quarter in the previous year, the business posted $1.51 EPS. The business's quarterly revenue was down 10.1% compared to the same quarter last year. On average, research analysts predict that Builders FirstSource, Inc. will post 4.26 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 buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

BLDR has been the topic of a number of recent research reports. KeyCorp lowered their target price on Builders FirstSource from $145.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Truist Financial lowered their price target on Builders FirstSource from $145.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Weiss Ratings downgraded Builders FirstSource from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 20th. Barclays lowered their price target on Builders FirstSource from $114.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, UBS Group lowered their price target on Builders FirstSource from $143.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. 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. Based on data from MarketBeat, Builders FirstSource currently has a consensus rating of "Hold" and an average target price of $101.88.

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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