Builders FirstSource, Inc. $BLDR Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Builders FirstSource stake by 6,687.9% in the second quarter, acquiring 11.0 million additional shares and reaching approximately 10.39% ownership valued at $1.0 billion.
• Builders FirstSource reported disappointing quarterly results, with EPS of $1.17 versus the $1.25 consensus estimate and revenue of $3.86 billion, down 8.8% year over year.
• The stock opened at $60.52, near its 52-week low, while analysts maintained a consensus “Hold” rating and an average price target of $90.26.

California State Teachers Retirement System boosted its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 6,687.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,177,842 shares of the company's stock after buying an additional 11,013,170 shares during the quarter. California State Teachers Retirement System owned approximately 10.39% of Builders FirstSource worth $1,000,193,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its stake in Builders FirstSource by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company's stock worth $432,000 after buying an additional 295 shares during the last quarter. Woodline Partners LP boosted its stake in Builders FirstSource by 40.7% during the 1st 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 period. EverSource Wealth Advisors LLC boosted its stake in Builders FirstSource by 180.0% during the 2nd 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 period. Baird Financial Group Inc. grew its position in Builders FirstSource by 230.7% during the 2nd 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 grew its position in Builders FirstSource by 144.1% during the 2nd 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. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Stock Performance

NYSE:BLDR opened at $60.52 on Friday. The firm's fifty day simple moving average is $70.56 and its 200-day simple moving average is $78.95. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14. The stock has a market cap of $6.51 billion, a PE ratio of 66.50, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. Builders FirstSource, Inc. has a fifty-two week low of $58.13 and a fifty-two week high of $145.68.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.17 EPS 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 company had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.91 billion. During the same period in the prior year, the firm posted $2.38 EPS. The firm's quarterly revenue was down 8.8% on a year-over-year basis. Analysts expect that Builders FirstSource, Inc. will post 3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Robert W. Baird set a $75.00 target price on shares of Builders FirstSource in a report on Friday, July 31st. Truist Financial lowered their price target on Builders FirstSource from $115.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Zacks Research cut Builders FirstSource from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Citizens Jmp started coverage on Builders FirstSource in a research note on Friday, August 21st. They set a "market perform" rating for the company. Finally, Weiss Ratings cut Builders FirstSource from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, July 21st. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $90.26.

Builders FirstSource Profile

Builders FirstSource, Inc NYSE: BLDR is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction customers. The company serves customers primarily across the United States through a network of locations and distribution facilities.

Its product offerings include lumber and engineered wood products, windows, doors, siding, roofing, insulation, cabinets, countertops, stairs and other construction materials.

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