Nuveen LLC Takes Position in Builders FirstSource, Inc. (NYSE:BLDR)

Key Points

• Nuveen LLC acquired a new stake in Builders FirstSource by purchasing 290,854 shares valued at approximately $36.3 million, representing 0.26% of the company.
• Several other institutional investors also increased their positions during the first quarter, with 95.53% of the stock currently owned by hedge funds and other institutional investors.
• Builders FirstSource's stock has faced several downgrades from analysts, with UBS lowering their price target from $180.00 to $163.00 and multiple firms issuing a mix of buy, hold, and sell ratings.

Nuveen LLC purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 290,854 shares of the company's stock, valued at approximately $36,339,000. Nuveen LLC owned 0.26% of Builders FirstSource at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new position in Builders FirstSource during the 1st quarter worth $31,000. Sentry Investment Management LLC purchased a new position in Builders FirstSource during the 1st quarter worth $40,000. CX Institutional purchased a new position in Builders FirstSource during the 1st quarter worth $45,000. Mather Group LLC. grew its stake in Builders FirstSource by 19.7% during the 1st quarter. Mather Group LLC. now owns 595 shares of the company's stock worth $74,000 after buying an additional 98 shares during the last quarter. Finally, New Age Alpha Advisors LLC grew its stake in Builders FirstSource by 22.8% during the 1st quarter. New Age Alpha Advisors LLC now owns 640 shares of the company's stock worth $80,000 after buying an additional 119 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Builders FirstSource news, Director Dirkson R. Charles purchased 5,000 shares of Builders FirstSource stock in a transaction that occurred on Tuesday, May 27th. The stock was bought at an average price of $109.67 per share, with a total value of $548,350.00. Following the acquisition, the director owned 5,000 shares of the company's stock, valued at $548,350. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

BLDR has been the topic of several research analyst reports. UBS Group dropped their target price on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Royal Bank Of Canada downgraded Builders FirstSource from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $132.00 to $129.00 in a research note on Friday, August 1st. Baird R W downgraded Builders FirstSource from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Barclays dropped their price target on Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Finally, DA Davidson dropped their price target on Builders FirstSource from $135.00 to $125.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $154.44.

Builders FirstSource Stock Performance

NYSE BLDR opened at $137.02 on Friday. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 14.63 and a beta of 1.68. Builders FirstSource, Inc. has a twelve month low of $102.60 and a twelve month high of $203.14. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average of $125.41 and a 200 day moving average of $126.90.

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

Builders FirstSource declared that its board has authorized a share 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is 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.

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