Empowered Funds LLC Decreases Stake in Builders FirstSource, Inc. $BLDR

Key Points

• Empowered Funds LLC cut its Builders FirstSource stake by 32.7% in the first quarter, selling 18,218 shares and retaining 37,539 shares valued at approximately $3.1 million.
• Builders FirstSource reported weaker quarterly results, with EPS of $1.17 missing estimates by $0.08 and revenue falling 8.8% year over year to $3.86 billion. The stock opened at $75.40, well below its 12-month high of $151.03.
• Analysts maintain a consensus “Hold” rating with an average price target of $90.59, while the company has authorized a $500 million share-repurchase program covering up to 5.4% of outstanding shares.

Empowered Funds LLC reduced its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 32.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,539 shares of the company's stock after selling 18,218 shares during the period. Empowered Funds LLC's holdings in Builders FirstSource were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. State Street Corp lifted its position in Builders FirstSource by 2.3% during the fourth quarter. State Street Corp now owns 5,108,120 shares of the company's stock worth $525,574,000 after buying an additional 115,857 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Builders FirstSource by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 3,316,797 shares of the company's stock worth $341,265,000 after acquiring an additional 73,835 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Builders FirstSource by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company's stock worth $244,301,000 after acquiring an additional 325,935 shares during the period. Geode Capital Management LLC boosted its position in shares of Builders FirstSource by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,817,958 shares of the company's stock valued at $288,789,000 after acquiring an additional 14,420 shares during the last quarter. Finally, Sands Capital Management LLC grew its holdings in shares of Builders FirstSource by 13.5% in the fourth quarter. Sands Capital Management LLC now owns 2,757,969 shares of the company's stock valued at $283,767,000 after purchasing an additional 327,067 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Builders FirstSource Price Performance

Shares of BLDR opened at $75.40 on Wednesday. Builders FirstSource, Inc. has a twelve month low of $65.10 and a twelve month high of $151.03. The firm's fifty day simple moving average is $76.91 and its 200-day simple moving average is $88.87. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 82.86, a PEG ratio of 2.25 and a beta of 1.44. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its 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). The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The business's revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.38 EPS. Equities analysts forecast that Builders FirstSource, Inc. will post 3.29 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

BLDR has been the topic of a number of analyst reports. Robert W. Baird set a $75.00 target price on shares of Builders FirstSource in a research note on Friday. Loop Capital dropped their price target on shares of Builders FirstSource from $140.00 to $110.00 in a research note on Friday, May 1st. UBS Group cut their price target on shares of Builders FirstSource from $122.00 to $88.00 and set a "buy" rating for the company in a report on Friday. Jefferies Financial Group reduced their price target on shares of Builders FirstSource from $85.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday, May 4th. Finally, DA Davidson set a $68.00 price objective on Builders FirstSource in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $90.59.

Builders FirstSource 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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