Builders FirstSource, Inc. (NYSE:BLDR) Stock Holdings Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Builders FirstSource by 11.6%, acquiring an additional 20,651 shares, bringing its total ownership to 199,029 shares valued at approximately $24.87 million.
• Builders FirstSource reported a quarterly EPS of $2.38, exceeding estimates but experiencing a revenue decline of 5.0% year-over-year, with revenue totaling $4.23 billion.
• The company's Board of Directors approved a $500 million share buyback program, indicating confidence in the stock's undervaluation.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,029 shares of the company's stock after acquiring an additional 20,651 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Builders FirstSource worth $24,867,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BLDR. Cambridge Investment Research Advisors Inc. grew its position in Builders FirstSource by 18.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 20,010 shares of the company's stock valued at $2,500,000 after buying an additional 3,131 shares in the last quarter. Stephens Inc. AR grew its position in Builders FirstSource by 42.5% in the 1st quarter. Stephens Inc. AR now owns 2,942 shares of the company's stock valued at $368,000 after buying an additional 877 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Builders FirstSource by 41.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,566 shares of the company's stock valued at $945,000 after buying an additional 2,216 shares in the last quarter. Altus Wealth Group LLC grew its position in Builders FirstSource by 11.2% in the 1st quarter. Altus Wealth Group LLC now owns 45,021 shares of the company's stock valued at $5,625,000 after buying an additional 4,549 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in Builders FirstSource in the 1st quarter valued at about $1,012,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Trading Down 1.0%

Shares of BLDR traded down $1.32 during midday trading on Friday, hitting $136.83. The stock had a trading volume of 367,857 shares, compared to its average volume of 1,966,747. Builders FirstSource, Inc. has a fifty-two week low of $102.60 and a fifty-two week high of $203.14. The business has a 50-day simple moving average of $124.91 and a two-hundred day simple moving average of $127.13. The firm has a market cap of $15.13 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 15.29 and a beta of 1.68. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12.

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

Builders FirstSource announced that its board has initiated a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

BLDR has been the subject of a number of recent analyst reports. UBS Group decreased their target price on shares of Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wedbush decreased their target price on shares of Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, June 20th. BMO Capital Markets reduced their price objective on shares of Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating for the company in a research report on Monday, May 5th. Raymond James Financial restated an "outperform" rating and set a $140.00 price objective (down previously from $170.00) on shares of Builders FirstSource in a research report on Friday, May 2nd. Finally, Robert W. Baird lowered shares of Builders FirstSource from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $145.00 to $130.00 in a research report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $154.44.

Insider Activity at Builders FirstSource

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

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.