Builders FirstSource, Inc. $BLDR Shares Purchased by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel increased its stake in Builders FirstSource by 17.1% in the fourth quarter, buying an additional 14,000 shares and bringing its total to 95,800 shares valued at about $9.86 million.
• Analysts have turned more cautious on the stock, with several firms cutting price targets after earnings. The consensus rating is currently Hold, with an average target price of $101.88.
• Builders FirstSource reported Q1 earnings of $0.27 per share, missing estimates, even though revenue of $3.29 billion topped forecasts. The company also authorized a $500 million share buyback, equal to about 5.4% of outstanding shares.

Schwartz Investment Counsel Inc. lifted its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 17.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,800 shares of the company's stock after purchasing an additional 14,000 shares during the period. Schwartz Investment Counsel Inc. owned approximately 0.09% of Builders FirstSource worth $9,857,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cromwell Holdings LLC grew 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 in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings 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 valued at $26,000 after purchasing an additional 132 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Builders FirstSource in the third quarter valued at approximately $34,000. CYBER HORNET ETFs LLC acquired a new position in shares of Builders FirstSource in the second quarter valued at approximately $38,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Builders FirstSource in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

BLDR has been the subject of a number of research reports. BMO Capital Markets dropped their price objective on shares of Builders FirstSource from $100.00 to $93.00 and set a "market perform" rating for the company in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Builders FirstSource from $102.00 to $81.00 and set a "hold" rating for the company in a report on Monday, May 4th. Loop Capital dropped their price objective on shares of Builders FirstSource from $140.00 to $110.00 in a report on Friday, May 1st. Weiss Ratings cut shares of Builders FirstSource from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 20th. Finally, William Blair initiated coverage on shares of Builders FirstSource in a research note on Thursday, February 26th. They issued an "outperform" rating for the company. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $101.88.

Builders FirstSource Stock Down 2.8%

Shares of Builders FirstSource stock opened at $72.79 on Wednesday. Builders FirstSource, Inc. has a 52-week low of $72.10 and a 52-week high of $151.03. The company has a 50 day moving average of $85.64 and a 200 day moving average of $102.78. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $7.83 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.80 and a beta of 1.49.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.27 earnings per share (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 firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.17 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The firm's revenue was down 10.1% compared to the same quarter last year. As a group, research analysts forecast that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Transactions at Builders FirstSource

In other news, Director Paul S. Levy purchased 50,000 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the completion of the purchase, the director directly owned 1,727,191 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

Builders FirstSource Company 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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