Levin Capital Strategies L.P. Takes $500,000 Position in Builders FirstSource, Inc. (NYSE:BLDR)

Key Points

• Levin Capital Strategies L.P. has made a new investment of $500,000 in Builders FirstSource, acquiring 4,000 shares, according to their recent SEC filing.
• Institutional investors now collectively own 95.53% of Builders FirstSource, indicating strong institutional interest in the company.
• Builders FirstSource reported a quarterly earnings per share (EPS) of $2.38, slightly exceeding the consensus estimate of $2.35, despite a 5.0% decline in revenue year-over-year.

Levin Capital Strategies L.P. acquired a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,000 shares of the company's stock, valued at approximately $500,000.

Other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC increased its stake in Builders FirstSource by 22.8% in the 1st quarter. New Age Alpha Advisors LLC now owns 640 shares of the company's stock worth $80,000 after acquiring an additional 119 shares during the last quarter. ING Groep NV bought a new position in Builders FirstSource in the 1st quarter worth about $389,000. Raiffeisen Bank International AG increased its stake in Builders FirstSource by 12.5% in the 1st quarter. Raiffeisen Bank International AG now owns 1,205 shares of the company's stock worth $150,000 after acquiring an additional 134 shares during the last quarter. Cheviot Value Management LLC bought a new position in Builders FirstSource in the 1st quarter worth about $209,000. Finally, J. Safra Sarasin Holding AG increased its stake in Builders FirstSource by 4.6% in the 1st quarter. J. Safra Sarasin Holding AG now owns 8,987 shares of the company's stock worth $1,123,000 after acquiring an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

BLDR has been the topic of a number of research analyst reports. Wedbush decreased their target price on Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, June 20th. Zelman & Associates reiterated an "underperform" rating on shares of Builders FirstSource in a research report on Friday, July 18th. Barclays reduced their price objective on Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Stifel Nicolaus increased their price objective on Builders FirstSource from $118.00 to $128.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Finally, DA Davidson reduced their price objective on Builders FirstSource from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $154.44.

Builders FirstSource Trading Up 0.8%

BLDR traded up $1.07 on Friday, hitting $132.33. 1,356,698 shares of the company were exchanged, compared to its average volume of 2,146,386. The firm has a fifty day simple moving average of $122.76 and a two-hundred day simple moving average of $127.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.08 and a current ratio of 1.79. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14. The stock has a market capitalization of $14.63 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 13.90 and a beta of 1.68.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.03. Builders FirstSource had a return on equity of 24.61% and a net margin of 4.74%. The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter last year, the business posted $3.50 EPS. The business's revenue was down 5.0% on a year-over-year basis. Sell-side analysts expect that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource announced that its board has authorized a stock repurchase program on Thursday, May 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Builders FirstSource news, Director Dirkson R. Charles acquired 5,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was acquired at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $548,350. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company's stock.

Builders FirstSource Profile

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.