Clearbridge Investments LLC Sells 245,564 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Clearbridge Investments LLC cut its stake in Builders FirstSource by 27.6% in the fourth quarter, selling 245,564 shares and leaving it with 643,937 shares worth about $66.3 million.
• Insider buying was also reported: Director Paul S. Levy purchased 50,000 shares at an average price of $87.73, increasing his ownership by 2.98%.
• Builders FirstSource recently missed earnings estimates with Q1 EPS of $0.27 versus $0.39 expected, even though revenue came in above forecasts; the board also authorized a $500 million share buyback.

Clearbridge Investments LLC decreased its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 643,937 shares of the company's stock after selling 245,564 shares during the period. Clearbridge Investments LLC owned 0.58% of Builders FirstSource worth $66,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Daiwa Securities Group Inc. boosted its position in shares of Builders FirstSource by 0.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 17,630 shares of the company's stock valued at $2,057,000 after purchasing an additional 78 shares in the last quarter. Aprio Wealth Management LLC boosted its position in shares of Builders FirstSource by 2.7% during the 3rd quarter. Aprio Wealth Management LLC now owns 3,680 shares of the company's stock valued at $446,000 after purchasing an additional 98 shares in the last quarter. Ramirez Asset Management Inc. boosted its position in shares of Builders FirstSource by 25.0% during the 3rd quarter. Ramirez Asset Management Inc. now owns 500 shares of the company's stock valued at $61,000 after purchasing an additional 100 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Builders FirstSource by 2.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 5,100 shares of the company's stock valued at $525,000 after purchasing an additional 100 shares in the last quarter. Finally, IMA Advisory Services Inc. boosted its position in shares of Builders FirstSource by 40.9% during the 3rd quarter. IMA Advisory Services Inc. now owns 355 shares of the company's stock valued at $43,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Insider Buying and Selling at Builders FirstSource

In related news, Director Paul S. Levy bought 50,000 shares of the company's stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the completion of the acquisition, the director directly owned 1,727,191 shares of the company's stock, valued at $151,526,466.43. This trade represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

Builders FirstSource Stock Down 0.6%

Shares of NYSE:BLDR opened at $73.17 on Tuesday. The business's 50 day simple moving average is $79.55 and its two-hundred day simple moving average is $97.76. The firm has a market cap of $7.87 billion, a P/E ratio of 28.03, a PEG ratio of 1.77 and a beta of 1.45. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. Builders FirstSource, Inc. has a 52-week low of $65.10 and a 52-week high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced 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 firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.17 billion. Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The firm's revenue was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 EPS. As a group, research analysts forecast that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.

Builders FirstSource declared that its board has authorized a share buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company cut their target price on Builders FirstSource from $87.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group cut their target price on Builders FirstSource from $85.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday, May 4th. Royal Bank Of Canada cut their price target on Builders FirstSource from $110.00 to $107.00 and set an "outperform" rating on the stock in a report on Friday, May 1st. Oppenheimer set a $121.00 price target on Builders FirstSource in a report on Friday, May 1st. Finally, William Blair initiated coverage on Builders FirstSource in a report on Thursday, February 26th. They issued an "outperform" rating on the stock. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $101.88.

About Builders FirstSource

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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