Robotti Robert Acquires New Stake in Builders FirstSource, Inc. $BLDR

Key Points

• Robotti Robert acquired 510,158 Builders FirstSource shares worth approximately $45.6 million, making BLDR its second-largest portfolio holding at 7.4% and representing about 0.47% of the company.
• Builders FirstSource reported weaker quarterly results, with EPS of $1.17 versus the $1.25 consensus and revenue down 8.8% year over year to $3.86 billion. The stock opened at $67.69, near its 12-month low of $65.10.
• Analysts have generally reduced their price targets, resulting in a consensus “Hold” rating and $90.35 target price. The company also authorized a $500 million share buyback, permitting repurchases of up to 5.4% of outstanding shares.

Robotti Robert bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 510,158 shares of the company's stock, valued at approximately $45,649,000. Builders FirstSource accounts for approximately 7.4% of Robotti Robert's portfolio, making the stock its 2nd biggest position. Robotti Robert owned approximately 0.47% of Builders FirstSource at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in Builders FirstSource by 167.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock worth $26,000 after purchasing an additional 132 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Builders FirstSource during the 2nd quarter valued at about $38,000. MUFG Securities EMEA plc purchased a new stake in shares of Builders FirstSource during the 2nd quarter valued at about $38,000. Sunbelt Securities Inc. lifted its stake in shares of Builders FirstSource by 508.5% in the 1st quarter. Sunbelt Securities Inc. now owns 359 shares of the company's stock worth $30,000 after purchasing an additional 300 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its stake in shares of Builders FirstSource by 90.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company's stock worth $38,000 after purchasing an additional 175 shares during the period. Institutional investors own 95.53% of the company's stock.

Builders FirstSource Stock Down 3.6%

BLDR stock opened at $67.69 on Wednesday. The business's 50-day moving average price is $76.33 and its 200-day moving average price is $85.30. The stock has a market cap of $7.28 billion, a P/E ratio of 74.39, a PEG ratio of 2.35 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14. Builders FirstSource, Inc. has a twelve month low of $65.10 and a twelve month high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.91 billion. During the same period in the prior year, the company posted $2.38 earnings per share. The company's revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Builders FirstSource, Inc. will post 3.15 EPS for the current year.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stephens cut their target price on shares of Builders FirstSource from $125.00 to $100.00 and set an "equal weight" rating for the company in a research report on Monday, April 27th. Stifel Nicolaus reduced their target price on shares of Builders FirstSource from $76.00 to $70.00 and set a "hold" rating for the company in a report on Thursday, July 23rd. UBS Group decreased their price target on shares of Builders FirstSource from $122.00 to $88.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Benchmark dropped their price target on shares of Builders FirstSource from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Finally, Loop Capital cut their price objective on shares of Builders FirstSource from $140.00 to $110.00 in a research report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $90.35.

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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