Illinois Municipal Retirement Fund Reduces Stock Position in Builders FirstSource, Inc. $BLDR

Key Points

• Illinois Municipal Retirement Fund reduced its Builders FirstSource stake by 14.4% in the first quarter, selling 16,722 shares and leaving it with 99,377 shares worth about $8.18 million.
• Builders FirstSource reported Q1 EPS of $0.27, missing estimates, even though revenue of $3.29 billion came in above expectations. Revenue was still down 10.1% year over year.
• The company authorized a $500 million share repurchase program, while analysts currently rate the stock a consensus “Hold” with an average price target of $101.45.

Illinois Municipal Retirement Fund cut its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,377 shares of the company's stock after selling 16,722 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.09% of Builders FirstSource worth $8,182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cromwell Holdings LLC grew its holdings in Builders FirstSource by 1,323.5% during the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company's stock valued at $25,000 after buying an additional 225 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Builders FirstSource by 167.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock worth $26,000 after buying an additional 132 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of 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. Transamerica Financial Advisors LLC boosted its position in shares of Builders FirstSource by 90.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after acquiring an additional 175 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Builders FirstSource in the second quarter valued at approximately $38,000. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BLDR. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Builders FirstSource from $102.00 to $81.00 and set a "hold" rating on the stock in a report on Monday, May 4th. UBS Group cut their price target on shares of Builders FirstSource from $143.00 to $122.00 and set a "buy" rating for the company in a report on Friday, May 1st. Benchmark reduced their price target on shares of Builders FirstSource from $138.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Loop Capital decreased their price target on shares of Builders FirstSource from $140.00 to $110.00 in a report on Friday, May 1st. Finally, Barclays lowered their price objective on Builders FirstSource from $114.00 to $93.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $101.45.

Builders FirstSource Trading Down 5.1%

Shares of BLDR opened at $74.23 on Friday. Builders FirstSource, Inc. has a 1-year low of $65.10 and a 1-year high of $151.03. The company has a market capitalization of $7.98 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.87 and a beta of 1.42. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09. The firm's 50 day simple moving average is $77.24 and its 200 day simple moving average is $92.46.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.12). The company had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.17 billion. Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.Builders FirstSource's quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 EPS. Sell-side analysts forecast that Builders FirstSource, Inc. will post 4.29 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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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