Builders FirstSource, Inc. (NYSE:BLDR) Stock Position Lowered by GoodHaven Capital Management LLC

GoodHaven Capital Management LLC trimmed its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 167,720 shares of the company's stock after selling 4,810 shares during the period. Builders FirstSource accounts for about 7.1% of GoodHaven Capital Management LLC's holdings, making the stock its 4th biggest holding. GoodHaven Capital Management LLC owned approximately 0.15% of Builders FirstSource worth $20,955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BLDR. abrdn plc boosted its holdings in Builders FirstSource by 20.4% in the 4th quarter. abrdn plc now owns 46,012 shares of the company's stock worth $6,578,000 after acquiring an additional 7,809 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Builders FirstSource by 30.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,852 shares of the company's stock worth $1,573,000 after purchasing an additional 2,539 shares in the last quarter. Choreo LLC boosted its stake in shares of Builders FirstSource by 28.4% in the fourth quarter. Choreo LLC now owns 4,332 shares of the company's stock valued at $621,000 after purchasing an additional 959 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Builders FirstSource during the 4th quarter valued at $12,625,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Builders FirstSource by 1.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,384 shares of the company's stock valued at $1,770,000 after purchasing an additional 199 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Paul S. Levy bought 283,517 shares of the stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $111.21 per share, with a total value of $31,529,925.57. Following the purchase, the director now owns 1,672,687 shares in the company, valued at approximately $186,019,521.27. This represents a 20.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dirkson R. Charles purchased 5,000 shares of Builders FirstSource stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $109.67 per share, with a total value of $548,350.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $548,350. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 505,000 shares of company stock worth $56,032,120. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BLDR shares. Loop Capital cut their price objective on shares of Builders FirstSource from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada restated an "outperform" rating and set a $132.00 target price on shares of Builders FirstSource in a research note on Thursday, May 15th. Barclays cut their price target on Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. UBS Group lowered their price objective on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Truist Financial dropped their price objective on Builders FirstSource from $220.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Builders FirstSource presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.58.

Builders FirstSource Stock Down 1.5%

NYSE:BLDR opened at $111.70 on Monday. The firm has a market capitalization of $12.34 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.80 and a beta of 1.69. The stock has a 50 day moving average of $115.49 and a 200-day moving average of $139.13. Builders FirstSource, Inc. has a 52 week low of $102.60 and a 52 week high of $203.14. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. Builders FirstSource had a net margin of 6.57% and a return on equity of 30.54%. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. The company's quarterly revenue was down 6.0% on a year-over-year basis. Analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership 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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