DNB Asset Management AS Purchases 50,355 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• DNB Asset Management AS increased its stake in Builders FirstSource by 89.3% in the fourth quarter, buying 50,355 shares and bringing its total holding to 106,715 shares worth about $10.98 million.
• Builders FirstSource reported mixed quarterly results: earnings of $0.27 per share missed estimates, but revenue of $3.29 billion came in above expectations despite declining 10.1% year over year.
• The company’s board authorized a $500 million share repurchase plan, while analysts currently rate the stock a consensus "Hold" with an average price target of $101.88.

DNB Asset Management AS grew its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 89.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,715 shares of the company's stock after buying an additional 50,355 shares during the quarter. DNB Asset Management AS owned approximately 0.10% of Builders FirstSource worth $10,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Integrated Wealth Concepts LLC raised its position in Builders FirstSource by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company's stock worth $432,000 after acquiring an additional 295 shares in the last quarter. Woodline Partners LP raised its position in Builders FirstSource by 40.7% during the first quarter. Woodline Partners LP now owns 9,723 shares of the company's stock worth $1,215,000 after acquiring an additional 2,812 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Builders FirstSource by 180.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company's stock worth $185,000 after acquiring an additional 1,017 shares in the last quarter. Baird Financial Group Inc. raised its position in Builders FirstSource by 230.7% during the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company's stock worth $2,210,000 after acquiring an additional 13,215 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Builders FirstSource by 144.1% in the 2nd quarter. Jump Financial LLC now owns 7,223 shares of the company's stock valued at $843,000 after purchasing an additional 4,264 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Trading Down 0.2%

Shares of BLDR stock opened at $70.24 on Monday. The firm has a 50 day moving average price of $84.10 and a two-hundred day moving average price of $101.69. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $7.55 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49. Builders FirstSource, Inc. has a 12-month low of $69.86 and a 12-month high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.12). Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same period in the prior year, the business posted $1.51 EPS. The firm's quarterly revenue was down 10.1% compared to the same quarter last year. As a group, analysts predict that Builders FirstSource, Inc. will post 4.26 earnings per share for the current year.

Builders FirstSource announced that its board has authorized a share repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Paul S. Levy bought 50,000 shares of the company's stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $87.73 per share, with a total value of $4,386,500.00. Following the completion of the acquisition, the director owned 1,727,191 shares of the company's stock, valued at $151,526,466.43. This represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BLDR. Wells Fargo & Company reduced their price target on Builders FirstSource from $87.00 to $85.00 and set an "equal weight" rating for the company in a report on Friday, May 1st. Oppenheimer set a $121.00 price target on Builders FirstSource in a report on Friday, May 1st. Jefferies Financial Group reduced their price target on Builders FirstSource from $85.00 to $80.00 and set a "hold" rating for the company in a report on Monday, May 4th. William Blair initiated coverage on Builders FirstSource in a report on Thursday, February 26th. They set an "outperform" rating for the company. Finally, Bank of America dropped their price target on Builders FirstSource from $123.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $101.88.

Builders FirstSource Company Profile

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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