Legal & General Group Plc Lowers Stock Holdings in Builders FirstSource, Inc. $BLDR

Key Points

• Legal & General Group Plc trimmed its Builders FirstSource stake by 7.2% in the fourth quarter, selling 42,647 shares and leaving it with 553,377 shares valued at about $56.9 million.
• Builders FirstSource reported mixed quarterly results: earnings of $0.27 per share missed estimates, but revenue of $3.29 billion topped expectations even as sales fell 10.1% from a year earlier.
• The company’s board approved a $500 million share buyback, while Wall Street sentiment remains cautious with a consensus Hold rating and an average price target of $101.88.

Legal & General Group Plc reduced its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 7.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 553,377 shares of the company's stock after selling 42,647 shares during the period. Legal & General Group Plc owned about 0.50% of Builders FirstSource worth $56,937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cromwell Holdings LLC grew its stake in Builders FirstSource by 1,323.5% in the 4th quarter. Cromwell Holdings LLC now owns 242 shares of the company's stock worth $25,000 after acquiring an additional 225 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock worth $26,000 after acquiring an additional 132 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in Builders FirstSource in the 3rd quarter worth approximately $34,000. CYBER HORNET ETFs LLC purchased a new stake in Builders FirstSource in the 2nd quarter worth approximately $38,000. Finally, MUFG Securities EMEA plc purchased a new stake in Builders FirstSource in the 2nd quarter worth approximately $38,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Stock Down 0.7%

Shares of NYSE BLDR opened at $76.20 on Friday. 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 stock has a market capitalization of $8.20 billion, a PE ratio of 29.20, a P/E/G ratio of 1.84 and a beta of 1.49. The firm has a fifty day moving average of $80.64 and a 200-day moving average of $99.01. Builders FirstSource, Inc. has a 52-week low of $65.10 and a 52-week 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 the consensus estimate of $0.39 by ($0.12). The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The business's revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.51 EPS. On average, analysts anticipate that Builders FirstSource, Inc. will post 4.26 EPS for the current year.

Builders FirstSource declared that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

BLDR has been the subject of several research reports. Bank of America lowered their price objective on shares of Builders FirstSource from $123.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. Stephens lowered their price objective on shares of Builders FirstSource from $125.00 to $100.00 and set an "equal weight" rating for the company in a research note on Monday, April 27th. Truist Financial lowered their price objective on shares of Builders FirstSource from $145.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. The Goldman Sachs Group lowered their price objective on shares of Builders FirstSource from $110.00 to $101.00 in a research note on Friday, May 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Builders FirstSource from $87.00 to $85.00 and set an "equal weight" rating for the company in a research note on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $101.88.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Paul S. Levy bought 50,000 shares of Builders FirstSource stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the acquisition, the director owned 1,727,191 shares of the company's stock, valued at $151,526,466.43. The trade was a 2.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company's stock.

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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