Lord Abbett & CO. LLC Sells 102,916 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Lord Abbett & CO. LLC significantly reduced its stake in Builders FirstSource, selling 102,916 shares and now owning only 3,073 shares, reflecting a cut of 97.1% in their holdings.
• Builders FirstSource reported a quarterly EPS of $2.38, beating analysts' estimates, but its revenue decreased by 5.0% year-over-year, totaling $4.23 billion.
• The company has initiated a $500 million share buyback plan, which indicates confidence from leadership regarding the undervaluation of its stock.

Lord Abbett & CO. LLC trimmed its position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 97.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,073 shares of the company's stock after selling 102,916 shares during the quarter. Lord Abbett & CO. LLC's holdings in Builders FirstSource were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Builders FirstSource by 25.9% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,000 shares of the company's stock worth $2,124,000 after acquiring an additional 3,500 shares during the last quarter. Eagle Global Advisors LLC grew its position in Builders FirstSource by 3.3% during the first quarter. Eagle Global Advisors LLC now owns 50,255 shares of the company's stock valued at $6,279,000 after buying an additional 1,585 shares during the period. Barnett & Company Inc. grew its position in Builders FirstSource by 16.1% during the first quarter. Barnett & Company Inc. now owns 4,683 shares of the company's stock valued at $585,000 after buying an additional 650 shares during the period. CCM Investment Group LLC purchased a new stake in Builders FirstSource during the first quarter worth about $1,602,000. Finally, Nuveen LLC purchased a new stake in Builders FirstSource during the first quarter worth about $36,339,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Builders FirstSource

In related news, Director Dirkson R. Charles purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $548,350. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BLDR shares. Wedbush decreased their price objective on shares of Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, June 20th. Zelman & Associates restated an "underperform" rating on shares of Builders FirstSource in a report on Friday, July 18th. Barclays decreased their price objective on shares of Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, August 1st. DA Davidson decreased their price objective on shares of Builders FirstSource from $135.00 to $125.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Finally, Stephens decreased their price objective on shares of Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Builders FirstSource has an average rating of "Moderate Buy" and a consensus price target of $154.44.

Builders FirstSource Stock Performance

Builders FirstSource stock traded up $10.67 during midday trading on Friday, reaching $143.89. The stock had a trading volume of 1,966,819 shares, compared to its average volume of 1,962,492. Builders FirstSource, Inc. has a 12 month low of $102.60 and a 12 month high of $203.14. The firm's 50-day moving average price is $127.03 and its 200 day moving average price is $126.00. The firm has a market capitalization of $15.91 billion, a PE ratio of 21.91, a P/E/G ratio of 14.06 and a beta of 1.68. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 1.12.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, beating 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 firm had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the prior year, the business posted $3.50 earnings per share. The company's revenue was down 5.0% on a year-over-year basis. Builders FirstSource has set its FY 2025 guidance at EPS. As a group, research analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

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.