Silvant Capital Management LLC Buys Shares of 35,152 Builders FirstSource, Inc. $BLDR

Key Points

• Silvant Capital Management acquired 35,152 Builders FirstSource shares worth approximately $3.15 million in the second quarter. Institutional investors and hedge funds collectively own 95.53% of BLDR.
• BLDR shares opened at $70.31, down 3.1%, and remain well below their one-year high of $151.03. The company’s latest quarterly results missed estimates, with EPS of $1.17 versus $1.25 expected and revenue declining 8.8% year over year.
• Builders FirstSource authorized a $500 million share-repurchase program, covering up to 5.4% of outstanding shares. Analysts maintain a consensus “Hold” rating with an average price target of $90.35.

Silvant Capital Management LLC bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,152 shares of the company's stock, valued at approximately $3,145,000.

Several other hedge funds and other institutional investors have also modified their holdings of BLDR. Daiwa Securities Group Inc. raised its position in Builders FirstSource by 0.4% during the second quarter. Daiwa Securities Group Inc. now owns 17,630 shares of the company's stock valued at $2,057,000 after buying an additional 78 shares during the period. New Mexico Educational Retirement Board lifted its stake in Builders FirstSource by 2.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 5,100 shares of the company's stock worth $525,000 after acquiring an additional 100 shares in the last quarter. Moors & Cabot Inc. boosted its position in Builders FirstSource by 1.5% during the 4th quarter. Moors & Cabot Inc. now owns 7,388 shares of the company's stock worth $760,000 after acquiring an additional 109 shares during the period. Root Financial Partners LLC boosted its position in Builders FirstSource by 43.6% during the 1st quarter. Root Financial Partners LLC now owns 372 shares of the company's stock worth $31,000 after acquiring an additional 113 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in Builders FirstSource by 5.9% during the third quarter. CIBC Private Wealth Group LLC now owns 2,272 shares of the company's stock valued at $275,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Stock Down 3.1%

BLDR stock opened at $70.31 on Friday. The firm has a market cap of $7.57 billion, a PE ratio of 77.26, a PEG ratio of 2.35 and a beta of 1.44. Builders FirstSource, Inc. has a 1 year low of $65.10 and a 1 year high of $151.03. The company has a fifty day simple moving average of $76.12 and a 200 day simple moving average of $84.69. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.17 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 business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the company earned $2.38 earnings per share. The company's quarterly revenue was down 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Builders FirstSource, Inc. will post 3.15 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has authorized a share buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

BLDR has been the subject of several recent research reports. Benchmark cut their price objective on Builders FirstSource from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. BMO Capital Markets restated a "market perform" rating and issued a $80.00 target price on shares of Builders FirstSource in a research note on Thursday, August 6th. Stephens dropped their target price on Builders FirstSource from $125.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Monday, April 27th. Wolfe Research raised Builders FirstSource to a "hold" rating in a research note on Thursday, May 14th. Finally, Truist Financial reduced their price target on Builders FirstSource from $115.00 to $90.00 and set a "buy" rating for the company in a report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $90.35.

Builders FirstSource 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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