Mitsubishi UFJ Asset Management Co. Ltd. Buys 22,270 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Builders FirstSource by 10.3% in the fourth quarter, adding 22,270 shares to bring its total holdings to 238,867 shares worth about $25 million.
• Insider buying continued as Director Paul S. Levy purchased 50,000 shares at $87.73 each, a transaction valued at $4.39 million and raising his direct ownership to more than 1.7 million shares.
• Builders FirstSource reported weaker earnings for the quarter, missing EPS estimates even though revenue topped forecasts; the company also approved a $500 million share repurchase program and saw analysts trim price targets, with the consensus rating now at “Hold.”

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,867 shares of the company's stock after acquiring an additional 22,270 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Builders FirstSource worth $24,993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Builders FirstSource by 5.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,401 shares of the company's stock valued at $1,379,000 after acquiring an additional 646 shares during the last quarter. Truist Financial Corp increased its stake in Builders FirstSource by 12.5% during the 4th quarter. Truist Financial Corp now owns 17,595 shares of the company's stock worth $1,810,000 after purchasing an additional 1,950 shares in the last quarter. Seizert Capital Partners LLC increased its stake in Builders FirstSource by 23.2% during the 4th quarter. Seizert Capital Partners LLC now owns 371,997 shares of the company's stock worth $38,275,000 after purchasing an additional 70,161 shares in the last quarter. Blalock Williams LLC increased its stake in Builders FirstSource by 14.4% during the 4th quarter. Blalock Williams LLC now owns 3,689 shares of the company's stock worth $380,000 after purchasing an additional 465 shares in the last quarter. Finally, Levin Capital Strategies L.P. increased its stake in Builders FirstSource by 80.0% during the 4th quarter. Levin Capital Strategies L.P. now owns 4,500 shares of the company's stock worth $463,000 after purchasing an additional 2,000 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Paul S. Levy purchased 50,000 shares of Builders FirstSource stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $87.73 per share, with a total value of $4,386,500.00. Following the transaction, the director directly owned 1,727,191 shares in the company, valued at $151,526,466.43. The trade was a 2.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

Builders FirstSource Trading Down 2.6%

NYSE:BLDR opened at $77.32 on Friday. Builders FirstSource, Inc. has a twelve month low of $73.40 and a twelve month high of $151.03. 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 business has a 50 day moving average price of $87.36 and a two-hundred day moving average price of $103.81. The company has a market cap of $8.32 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.49.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.12). Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same period last year, the company earned $1.51 EPS. The company's revenue was down 10.1% compared to the same quarter last year. As a group, analysts expect that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.

Builders FirstSource declared that its board has authorized a share repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. DA Davidson lowered their target price on Builders FirstSource from $111.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Barclays lowered their target price on Builders FirstSource from $114.00 to $93.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. KeyCorp lowered their target price on Builders FirstSource from $145.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Raymond James Financial lowered their target price on Builders FirstSource from $140.00 to $100.00 in a research note on Friday, May 1st. Finally, Stifel Nicolaus lowered their target price on Builders FirstSource from $115.00 to $93.00 and set a "hold" rating for the company in a research note on Monday, March 16th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $101.88.

Builders FirstSource Company 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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