Northern Trust Corp Sells 5,189 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Northern Trust Corp has reduced its stake in Builders FirstSource, Inc. by 0.5% in the first quarter, now owning approximately 1.03% of the company, worth $141.76 million.
• Various institutional investors, including Kovitz Investment Group Partners LLC and Diamond Hill Capital Management Inc., have notably increased their positions in Builders FirstSource, indicating ongoing strong interest in the stock.
• Analysts have issued mixed reviews: while some, like Stephens, set price targets above current levels, others, including Zelman & Associates, maintain a cautious outlook with an "underperform" rating.

Northern Trust Corp decreased its stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,134,586 shares of the company's stock after selling 5,189 shares during the quarter. Northern Trust Corp owned about 1.03% of Builders FirstSource worth $141,755,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BLDR. Kovitz Investment Group Partners LLC boosted its holdings in Builders FirstSource by 957.1% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 528,984 shares of the company's stock valued at $66,091,000 after acquiring an additional 478,942 shares during the period. Diamond Hill Capital Management Inc. raised its position in Builders FirstSource by 16.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,270,362 shares of the company's stock worth $283,659,000 after buying an additional 326,923 shares during the last quarter. Coliseum Capital Management LLC purchased a new stake in shares of Builders FirstSource in the fourth quarter valued at approximately $45,334,000. Nuveen LLC purchased a new position in Builders FirstSource in the 1st quarter valued at approximately $36,339,000. Finally, Invesco Ltd. increased its stake in shares of Builders FirstSource by 11.8% during the 1st quarter. Invesco Ltd. now owns 2,519,461 shares of the company's stock worth $314,781,000 after purchasing an additional 265,873 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on BLDR. BMO Capital Markets decreased their price target on shares of Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating on the stock in a report on Monday, May 5th. Stifel Nicolaus lifted their price objective on shares of Builders FirstSource from $118.00 to $128.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Stephens decreased their price objective on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 target price (down from $170.00) on shares of Builders FirstSource in a report on Friday, May 2nd. Finally, Oppenheimer set a $155.00 price objective on shares of Builders FirstSource and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Builders FirstSource currently has an average rating of "Moderate Buy" and an average price target of $154.44.

Builders FirstSource Trading Down 1.7%

NYSE:BLDR traded down $2.47 during midday trading on Thursday, reaching $139.29. 361,522 shares of the stock traded hands, compared to its average volume of 1,968,804. The company has a fifty day moving average of $129.70 and a 200 day moving average of $125.53. 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 $15.40 billion, a P/E ratio of 21.12, a PEG ratio of 15.11 and a beta of 1.68. 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 (NYSE:BLDR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the firm posted $3.50 EPS. The business's revenue was down 5.0% on a year-over-year basis. Builders FirstSource has set its FY 2025 guidance at EPS. On average, research analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource declared that its board 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 repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Builders FirstSource Company 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.