ING Groep NV Invests $1.37 Million in Builders FirstSource, Inc. $BLDR

Key Points

• ING Groep NV opened a new position in Builders FirstSource during the fourth quarter, buying 13,291 shares worth about $1.37 million.
• Other institutional investors have also been increasing their stakes, and 95.53% of the company is now owned by institutions. Insider activity was also notable, with Director Paul S. Levy buying 50,000 shares in March.
• Analysts have turned more cautious on BLDR, with several firms cutting price targets; the stock now has a consensus Hold rating and an average target price of $101.88. Builders FirstSource also recently missed earnings per share estimates, even though revenue came in above expectations.

ING Groep NV purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,291 shares of the company's stock, valued at approximately $1,368,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schwartz Investment Counsel Inc. raised its holdings in shares of Builders FirstSource by 17.1% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 95,800 shares of the company's stock valued at $9,857,000 after acquiring an additional 14,000 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Builders FirstSource by 28.9% in the third quarter. Candriam S.C.A. now owns 53,085 shares of the company's stock valued at $6,437,000 after acquiring an additional 11,891 shares in the last quarter. Eagle Global Advisors LLC raised its holdings in shares of Builders FirstSource by 46.3% in the fourth quarter. Eagle Global Advisors LLC now owns 60,242 shares of the company's stock valued at $6,198,000 after acquiring an additional 19,062 shares in the last quarter. Fieldview Capital Management LLC bought a new stake in shares of Builders FirstSource in the third quarter valued at about $2,944,000. Finally, Rafferty Asset Management LLC raised its holdings in shares of Builders FirstSource by 99.2% in the third quarter. Rafferty Asset Management LLC now owns 97,422 shares of the company's stock valued at $11,812,000 after acquiring an additional 48,507 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Paul S. Levy bought 50,000 shares of Builders FirstSource stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $87.73 per share, for a total transaction 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 trade represents a 2.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on BLDR shares. DA Davidson decreased their price objective on Builders FirstSource from $111.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Loop Capital decreased their price objective on Builders FirstSource from $140.00 to $110.00 in a report on Friday, May 1st. Robert W. Baird decreased their price objective on Builders FirstSource from $125.00 to $95.00 in a report on Friday, May 1st. BMO Capital Markets decreased their price objective on Builders FirstSource from $100.00 to $93.00 and set a "market perform" rating for the company in a report on Monday, May 4th. Finally, Bank of America decreased their price objective on Builders FirstSource from $123.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $101.88.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $77.55 on Wednesday. The company has a market capitalization of $8.34 billion, a PE ratio of 29.71, a P/E/G ratio of 1.75 and a beta of 1.44. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.76. The company has a 50-day simple moving average of $79.50 and a two-hundred day simple moving average of $97.63. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its 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 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 business's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 earnings per share. Research analysts expect that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.

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