Builders FirstSource, Inc. $BLDR Stake Increased by New York Life Investment Management LLC

Key Points

• New York Life Investment Management increased its Builders FirstSource stake by 1,408.8% in the third quarter, adding 406,610 shares to hold 435,473 shares valued at about $24.8 million.
• Other institutions also made third-quarter purchases, and institutional investors collectively own 95.53% of the company’s shares.
• Builders FirstSource beat quarterly EPS and revenue estimates, though revenue fell 2.2% year over year. Analysts’ consensus rating is Hold, with an average price target of $75.55.

New York Life Investment Management LLC lifted its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 1,408.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 435,473 shares of the company's stock after purchasing an additional 406,610 shares during the period. New York Life Investment Management LLC owned approximately 0.40% of Builders FirstSource worth $24,826,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. DMKC Advisory Services LLC purchased a new position in Builders FirstSource in the third quarter valued at about $4,035,000. 71 West Capital Partners acquired a new stake in shares of Builders FirstSource during the 3rd quarter valued at approximately $1,455,000. Welch & Forbes LLC purchased a new stake in shares of Builders FirstSource during the 3rd quarter worth approximately $2,417,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of Builders FirstSource during the 3rd quarter worth approximately $108,298,000. Finally, Alpha Family Trust purchased a new stake in shares of Builders FirstSource during the 3rd quarter worth approximately $412,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Builders FirstSource Stock Performance

NYSE:BLDR opened at $62.97 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $6.78 billion, a P/E ratio of 170.19, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. The firm has a 50-day moving average price of $58.83 and a two-hundred day moving average price of $78.60. Builders FirstSource, Inc. has a twelve month low of $49.67 and a twelve month high of $131.50.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.45. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.75 billion. Builders FirstSource had a net margin of 0.28% and a return on equity of 10.77%. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.88 earnings per share. As a group, research analysts expect that Builders FirstSource, Inc. will post 3.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Oppenheimer lowered their price target on Builders FirstSource from $90.00 to $78.00 and set an "outperform" rating on the stock in a report on Friday, October 16th. Royal Bank Of Canada reduced their price objective on Builders FirstSource from $62.00 to $56.00 and set a "sector perform" rating for the company in a report on Friday, October 30th. DA Davidson set a $68.00 target price on Builders FirstSource in a research report on Friday, July 31st. Wells Fargo & Company upped their target price on Builders FirstSource from $55.00 to $58.00 and gave the company an "equal weight" rating in a report on Friday, October 30th. Finally, Truist Financial upped their target price on Builders FirstSource from $70.00 to $75.00 and gave the company a "buy" rating in a report on Friday, October 30th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Builders FirstSource presently has a consensus rating of "Hold" and an average price target of $75.55.

About Builders FirstSource

Builders FirstSource, Inc. supplies building materials and construction services to professional homebuilders, remodelers and contractors in the United States. The company serves customers through a network of locations across the country. Its offerings include lumber, windows, doors, roofing and other building products, as well as manufactured components such as roof and floor trusses, wall panels and stairs. Builders FirstSource also provides services including design support, component manufacturing and jobsite delivery.

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