Builders FirstSource, Inc. $BLDR Stake Raised by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans boosted its Builders FirstSource stake by 26.7% in the fourth quarter, adding 16,398 shares and bringing its total to 77,881 shares worth about $8.0 million.
• Builders FirstSource reported mixed quarterly results, with EPS of $0.27 missing estimates while revenue of $3.29 billion came in above expectations; revenue still fell 10.1% from a year earlier.
• The company’s board approved a $500 million share repurchase plan, and the stock was also buoyed by notable insider buying, including a 50,000-share purchase by Director Paul S. Levy.

Thrivent Financial for Lutherans grew its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 26.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,881 shares of the company's stock after buying an additional 16,398 shares during the period. Thrivent Financial for Lutherans owned 0.07% of Builders FirstSource worth $8,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BLDR. Capital International Investors bought a new stake in shares of Builders FirstSource during the third quarter valued at approximately $429,640,000. Franklin Resources Inc. raised its holdings in shares of Builders FirstSource by 2,498.8% during the third quarter. Franklin Resources Inc. now owns 1,854,525 shares of the company's stock valued at $224,861,000 after buying an additional 1,783,164 shares during the last quarter. Sands Capital Management LLC increased its stake in shares of Builders FirstSource by 139.1% during the third quarter. Sands Capital Management LLC now owns 2,430,902 shares of the company's stock valued at $294,747,000 after acquiring an additional 1,414,129 shares during the period. Victory Capital Management Inc. increased its stake in shares of Builders FirstSource by 235.1% during the third quarter. Victory Capital Management Inc. now owns 1,893,483 shares of the company's stock valued at $229,585,000 after acquiring an additional 1,328,363 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of Builders FirstSource by 10,918.0% during the third quarter. Public Sector Pension Investment Board now owns 881,439 shares of the company's stock valued at $106,874,000 after acquiring an additional 873,439 shares during the period. Institutional investors own 95.53% of the company's stock.

Builders FirstSource Trading Up 7.3%

Builders FirstSource stock opened at $71.21 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49. Builders FirstSource, Inc. has a 1 year low of $65.10 and a 1 year high of $151.03. The firm's 50 day moving average price is $82.58 and its two-hundred day moving average price is $100.71.

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 the consensus estimate of $0.39 by ($0.12). The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.17 billion. Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The company's quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 EPS. On average, research analysts predict that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.

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

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Paul S. Levy purchased 50,000 shares of the firm's stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the completion of the transaction, the director owned 1,727,191 shares in the company, valued at $151,526,466.43. This represents a 2.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.70% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on BLDR. Robert W. Baird lowered their price objective on shares of Builders FirstSource from $125.00 to $95.00 in a research note on Friday, May 1st. Weiss Ratings lowered shares of Builders FirstSource from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 20th. Zacks Research lowered shares of Builders FirstSource from a "hold" rating to a "strong sell" rating in a research note on Friday, May 1st. The Goldman Sachs Group lowered their price objective on shares of Builders FirstSource from $110.00 to $101.00 in a research note on Friday, May 1st. Finally, BMO Capital Markets lowered their price objective on shares of Builders FirstSource from $100.00 to $93.00 and set a "market perform" rating on the stock in a research note on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $101.88.

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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