Builders FirstSource, Inc. $BLDR Shares Sold by Evercore Wealth Management LLC

Key Points

• Evercore Wealth Management reduced its Builders FirstSource stake by 2%, selling 16,700 shares and retaining 802,718 shares valued at approximately $66.1 million. Institutional investors collectively own 95.53% of BLDR.
• Analysts maintain a broadly cautious outlook, with a consensus “Hold” rating and an average price target of $100.35, despite some target reductions.
• BLDR opened at $72.59, near the lower end of its 52-week range, after the company reported a 10.1% year-over-year revenue decline and quarterly EPS below expectations. The board also authorized a $500 million share-repurchase program.

Evercore Wealth Management LLC trimmed its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 802,718 shares of the company's stock after selling 16,700 shares during the period. Evercore Wealth Management LLC owned about 0.75% of Builders FirstSource worth $66,088,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in BLDR. Northwestern Mutual Wealth Management Co. raised its position in Builders FirstSource by 99,084.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company's stock valued at $230,634,000 after purchasing an additional 2,239,301 shares during the period. Norges Bank purchased a new position in shares of Builders FirstSource during the fourth quarter worth $109,269,000. Boston Partners grew its stake in shares of 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 buying an additional 781,506 shares in the last quarter. Coliseum Capital Management LLC acquired a new stake in shares of Builders FirstSource in the fourth quarter valued at $80,321,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Builders FirstSource by 37.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,641,809 shares of the company's stock valued at $271,816,000 after buying an additional 725,905 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BLDR shares. Stifel Nicolaus decreased their target price on Builders FirstSource from $76.00 to $70.00 and set a "hold" rating on the stock in a research note on Thursday, July 23rd. BMO Capital Markets dropped their target price on Builders FirstSource from $100.00 to $93.00 and set a "market perform" rating for the company in a research report on Monday, May 4th. DA Davidson set a $100.00 price target on shares of Builders FirstSource in a research note on Thursday. Wells Fargo & Company reduced their price target on shares of Builders FirstSource from $87.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Friday, May 1st. Finally, Wolfe Research raised shares of Builders FirstSource to a "hold" rating in a research note on Thursday, May 14th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Builders FirstSource has a consensus rating of "Hold" and an average target price of $100.35.

Builders FirstSource Trading Down 0.4%

BLDR opened at $72.59 on Tuesday. Builders FirstSource, Inc. has a 12 month low of $65.10 and a 12 month high of $151.03. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.79 and a beta of 1.42. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09. The business has a fifty day moving average price of $77.16 and a 200 day moving average price of $90.95.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted 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). The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. Builders FirstSource's revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 EPS. Sell-side analysts expect that Builders FirstSource, Inc. will post 4.16 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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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