Rhumbline Advisers Grows Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Rhumbline Advisers raised its position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,330 shares of the company's stock after buying an additional 19,904 shares during the quarter. Rhumbline Advisers owned about 0.21% of Builders FirstSource worth $29,027,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BLDR. Norges Bank bought a new stake in Builders FirstSource in the 4th quarter valued at about $199,890,000. Voya Investment Management LLC raised its holdings in shares of Builders FirstSource by 174.2% during the fourth quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company's stock valued at $202,374,000 after buying an additional 899,841 shares during the last quarter. FMR LLC raised its holdings in shares of Builders FirstSource by 7.3% during the fourth quarter. FMR LLC now owns 10,898,366 shares of the company's stock valued at $1,557,703,000 after buying an additional 740,214 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Builders FirstSource by 15,533.9% during the fourth quarter. Proficio Capital Partners LLC now owns 649,903 shares of the company's stock worth $92,891,000 after buying an additional 645,746 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in Builders FirstSource by 47.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,943,439 shares of the company's stock valued at $277,776,000 after acquiring an additional 623,583 shares during the period. Institutional investors own 95.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BLDR shares. The Goldman Sachs Group decreased their price target on Builders FirstSource from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Truist Financial decreased their price objective on shares of Builders FirstSource from $220.00 to $180.00 and set a "buy" rating for the company in a report on Friday, February 21st. UBS Group cut their target price on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Benchmark decreased their price target on Builders FirstSource from $200.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Finally, Barclays dropped their price target on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Builders FirstSource has a consensus rating of "Moderate Buy" and a consensus price target of $167.58.

Insider Buying and Selling at Builders FirstSource

In other news, Director Paul S. Levy purchased 283,517 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average cost of $111.21 per share, for a total transaction of $31,529,925.57. Following the acquisition, the director now directly owns 1,672,687 shares of the company's stock, valued at $186,019,521.27. This represents a 20.41% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dirkson R. Charles bought 5,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was bought at an average cost of $109.67 per share, with a total value of $548,350.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $548,350. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 505,000 shares of company stock valued at $56,032,120 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Builders FirstSource Stock Down 1.5%

Shares of BLDR traded down $1.66 on Friday, reaching $111.70. The company's stock had a trading volume of 1,252,443 shares, compared to its average volume of 1,674,295. The firm has a fifty day moving average of $115.77 and a 200-day moving average of $140.10. Builders FirstSource, Inc. has a twelve month low of $102.60 and a twelve month high of $203.14. The stock has a market capitalization of $12.34 billion, a PE ratio of 12.33, a PEG ratio of 0.80 and a beta of 1.69. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.67 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The business's revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.65 earnings per share. Equities analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

About Builders FirstSource

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.