Builders FirstSource, Inc. (NYSE:BLDR) Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Builders FirstSource by 9.2% in the first quarter, owning 909,866 shares worth approximately $113.68 million.
• Multiple hedge funds, including Cambridge Investment Research and Stephens Inc., also raised their investments, with the majority of Builders FirstSource stock owned by institutional investors at 95.53%.
• Builders FirstSource reported a 5.0% decline in year-over-year revenue, with a quarterly revenue of $4.23 billion and an EPS of $2.38, exceeding analysts' consensus estimates.

Charles Schwab Investment Management Inc. grew its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 909,866 shares of the company's stock after buying an additional 76,368 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.80% of Builders FirstSource worth $113,679,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Builders FirstSource by 18.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 20,010 shares of the company's stock valued at $2,500,000 after buying an additional 3,131 shares during the period. Stephens Inc. AR increased its stake in Builders FirstSource by 42.5% in the 1st quarter. Stephens Inc. AR now owns 2,942 shares of the company's stock valued at $368,000 after purchasing an additional 877 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Builders FirstSource by 41.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,566 shares of the company's stock valued at $945,000 after purchasing an additional 2,216 shares in the last quarter. Altus Wealth Group LLC increased its stake in Builders FirstSource by 11.2% in the 1st quarter. Altus Wealth Group LLC now owns 45,021 shares of the company's stock valued at $5,625,000 after purchasing an additional 4,549 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new position in Builders FirstSource in the 1st quarter valued at approximately $1,012,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Builders FirstSource news, Director Dirkson R. Charles purchased 5,000 shares of Builders FirstSource stock in a transaction that occurred on Tuesday, May 27th. The stock was purchased at an average price of $109.67 per share, with a total value of $548,350.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at approximately $548,350. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BLDR shares. Zelman & Associates reaffirmed an "underperform" rating on shares of Builders FirstSource in a research note on Friday, July 18th. Barclays dropped their price objective on Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Baird R W downgraded Builders FirstSource from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $134.00 price objective on shares of Builders FirstSource in a research note on Friday, August 1st. Finally, Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (down previously from $170.00) on shares of Builders FirstSource in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Builders FirstSource currently has a consensus rating of "Hold" and an average price target of $154.44.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $128.96 on Tuesday. The company has a market cap of $14.26 billion, a P/E ratio of 19.57, a P/E/G ratio of 14.00 and a beta of 1.68. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 1.12. Builders FirstSource, Inc. has a 52 week low of $102.60 and a 52 week high of $203.14. The business has a fifty day simple moving average of $123.22 and a 200-day simple moving average of $127.18.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.03. Builders FirstSource had a return on equity of 24.61% and a net margin of 4.74%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $3.50 earnings per share. The business's revenue for the quarter was down 5.0% on a year-over-year basis. Equities research analysts forecast that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.

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