Builders FirstSource, Inc. $BLDR Shares Purchased by Main Street Financial Solutions LLC

Key Points

• Main Street Financial Solutions increased its Builders FirstSource position by 265.5% in the second quarter, holding 75,685 shares worth approximately $6.8 million. Institutional investors and hedge funds collectively own 95.53% of BLDR.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $90.35; ratings range from “Strong Sell” to “Outperform.”
• Builders FirstSource reported weaker quarterly results, with EPS of $1.17 versus the $1.25 estimate and revenue down 8.8% year over year to $3.86 billion. The company has also authorized a $500 million share-buyback program covering up to 5.4% of outstanding shares.

Main Street Financial Solutions LLC raised its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 265.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,685 shares of the company's stock after purchasing an additional 54,977 shares during the period. Main Street Financial Solutions LLC owned about 0.07% of Builders FirstSource worth $6,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Builders FirstSource in the 2nd quarter valued at about $700,934,000. Northwestern Mutual Wealth Management Co. raised its stake in Builders FirstSource by 99,084.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company's stock worth $230,634,000 after acquiring an additional 2,239,301 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Builders FirstSource in the second quarter worth about $134,908,000. Norges Bank bought a new position in Builders FirstSource in the fourth quarter worth about $109,269,000. Finally, Boston Partners boosted its stake in Builders FirstSource by 73.0% in the third quarter. Boston Partners now owns 1,852,292 shares of the company's stock valued at $224,627,000 after acquiring an additional 781,506 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $80.00 target price on shares of Builders FirstSource in a report on Thursday, August 6th. Royal Bank Of Canada reduced their price objective on Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Wolfe Research upgraded Builders FirstSource to a "hold" rating in a research note on Thursday, May 14th. Zacks Research downgraded Builders FirstSource from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group dropped their target price on Builders FirstSource from $110.00 to $101.00 in a research report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $90.35.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $67.69 on Wednesday. The firm's 50 day moving average is $76.33 and its two-hundred day moving average is $85.30. The firm has a market capitalization of $7.28 billion, a P/E ratio of 74.39, a PEG ratio of 2.35 and a beta of 1.44. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. Builders FirstSource, Inc. has a 52 week low of $65.10 and a 52 week high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. The business's quarterly revenue was down 8.8% on a year-over-year basis. Analysts anticipate that Builders FirstSource, Inc. will post 3.15 earnings per share for the current year.

Builders FirstSource declared that its board has initiated a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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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