Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management has significantly reduced its stake in Builders FirstSource by 93.0%, selling around 18,960 shares and retaining only 1,428 shares, valued at $178,000.
• Multiple institutional investors have either acquired new stakes or increased their holdings in Builders FirstSource, with Norges Bank investing approximately $199.9 million in the 4th quarter.
• Builders FirstSource reported $1.51 earnings per share for the last quarter, slightly exceeding analyst expectations, while the company also announced a $500 million share buyback plan.

Neo Ivy Capital Management lowered its position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 93.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,428 shares of the company's stock after selling 18,960 shares during the quarter. Neo Ivy Capital Management's holdings in Builders FirstSource were worth $178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BLDR. FMR LLC raised its position in shares of Builders FirstSource by 7.3% in the 4th quarter. FMR LLC now owns 10,898,366 shares of the company's stock worth $1,557,703,000 after purchasing an additional 740,214 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Builders FirstSource by 16.8% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,270,362 shares of the company's stock worth $283,659,000 after buying an additional 326,923 shares in the last quarter. Invesco Ltd. grew its stake in shares of Builders FirstSource by 1.2% during the 4th quarter. Invesco Ltd. now owns 2,253,588 shares of the company's stock valued at $322,105,000 after purchasing an additional 26,314 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Builders FirstSource by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,237,996 shares of the company's stock valued at $319,898,000 after purchasing an additional 77,666 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Builders FirstSource by 8.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,578,655 shares of the company's stock valued at $225,637,000 after purchasing an additional 120,400 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Builders FirstSource Stock Performance

Shares of BLDR stock traded down $0.77 during trading hours on Monday, reaching $135.69. 1,832,109 shares of the company's stock were exchanged, compared to its average volume of 1,920,015. The company has a market cap of $15.00 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 12.48 and a beta of 1.69. The company's 50 day moving average is $118.61 and its two-hundred day moving average is $129.42. Builders FirstSource, Inc. has a 1 year low of $102.60 and a 1 year high of $203.14. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.67 billion. Builders FirstSource had a return on equity of 28.02% and a net margin of 5.66%. The company's revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 EPS. Equities research analysts anticipate that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Builders FirstSource news, Director Dirkson R. Charles purchased 5,000 shares of Builders FirstSource stock in a transaction on Tuesday, May 27th. The shares were bought at an average price of $109.67 per share, with a total value of $548,350.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $548,350. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul S. Levy acquired 283,517 shares of the stock in a transaction dated Thursday, May 8th. The stock was acquired at an average cost of $111.21 per share, with a total value of $31,529,925.57. Following the transaction, the director owned 1,672,687 shares of the company's stock, valued at approximately $186,019,521.27. This trade represents a 20.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 505,000 shares of company stock worth $56,032,120. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

BLDR has been the subject of a number of recent research reports. Loop Capital cut their price target on Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Builders FirstSource in a research report on Tuesday, April 1st. They set a "buy" rating and a $151.00 price objective on the stock. Zelman & Associates reaffirmed an "underperform" rating on shares of Builders FirstSource in a research report on Friday, July 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $132.00 price objective on shares of Builders FirstSource in a research report on Thursday, May 15th. Finally, Robert W. Baird set a $130.00 price objective on Builders FirstSource in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $159.42.

Builders FirstSource Profile

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.