Cohen Klingenstein LLC Acquires New Shares in Builders FirstSource, Inc. $BLDR

Key Points

• Cohen Klingenstein LLC acquired 90,900 Builders FirstSource shares worth approximately $5.18 million during the third quarter, representing about 0.08% of the company. Institutional investors collectively own 95.53% of BLDR.
• Builders FirstSource reported quarterly revenue of $3.86 billion and EPS of $1.17, missing analyst estimates, while revenue declined 8.8% year over year and prior-year EPS was $2.38.
• Analyst sentiment is mixed, with nine Buy, thirteen Hold and three Sell ratings; the stock carries a consensus rating of Hold and a price target of $84.50, compared with a recent price of $53.70.

Cohen Klingenstein LLC acquired a new position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 90,900 shares of the company's stock, valued at approximately $5,182,000. Cohen Klingenstein LLC owned about 0.08% of Builders FirstSource as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in BLDR. Sunbelt Securities Inc. increased its position in shares of Builders FirstSource by 508.5% during the first quarter. Sunbelt Securities Inc. now owns 359 shares of the company's stock valued at $30,000 after buying an additional 300 shares during the period. Root Financial Partners LLC raised its stake in Builders FirstSource by 43.6% in the first quarter. Root Financial Partners LLC now owns 372 shares of the company's stock worth $31,000 after buying an additional 113 shares in the last quarter. Allworth Financial LP purchased a new stake in Builders FirstSource in the second quarter worth about $42,000. Continuum Advisory LLC purchased a new stake in Builders FirstSource in the second quarter worth about $48,000. Finally, Global Retirement Partners LLC purchased a new stake in Builders FirstSource in the second quarter worth about $49,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Price Performance

BLDR opened at $53.70 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. The firm has a market cap of $5.78 billion, a PE ratio of 59.01, a P/E/G ratio of 1.62 and a beta of 1.45. Builders FirstSource, Inc. has a 1 year low of $49.67 and a 1 year high of $131.50. The stock has a 50-day moving average price of $62.50 and a 200-day moving average price of $72.81.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The firm had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.91 billion. During the same quarter in the previous year, the company earned $2.38 EPS. The company's quarterly revenue was down 8.8% compared to the same quarter last year. Sell-side analysts predict that Builders FirstSource, Inc. will post 3.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on BLDR shares. Royal Bank Of Canada cut their price objective on Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $66.00 target price on Builders FirstSource in a research report on Friday, July 31st. Melius Research initiated coverage on Builders FirstSource in a research note on Tuesday, October 6th. They issued a "sell" rating and a $52.00 target price for the company. Citizens Jmp initiated coverage on Builders FirstSource in a research report on Friday, August 21st. They set a "market perform" rating on the stock. Finally, Oppenheimer dropped their price target on Builders FirstSource from $110.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Builders FirstSource presently has an average rating of "Hold" and a consensus price target of $84.50.

Builders FirstSource Profile

Builders FirstSource, Inc NYSE: BLDR is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction professionals in the United States. The company serves customers through a network of locations across the country and supports both residential and selected commercial construction projects.

Its product offerings include lumber and other structural materials, engineered wood products, windows, interior and exterior doors, roofing, siding, cabinets, flooring and related building supplies.

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