Strs Ohio Decreases Stock Holdings in Builders FirstSource, Inc. $BLDR

Key Points

• Strs Ohio slashed its Builders FirstSource stake by 97.8% in the fourth quarter, leaving it with just 2,599 shares worth about $267,000 after selling 115,995 shares.
• Builders FirstSource missed earnings expectations in its latest quarterly report, posting EPS of $0.27 versus estimates of $0.39, even though revenue of $3.29 billion came in above forecasts.
• The company also announced a $500 million share buyback, while analysts remain cautious overall with a consensus rating of “Hold” and an average price target of $101.88.

Strs Ohio lowered its position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 97.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,599 shares of the company's stock after selling 115,995 shares during the period. Strs Ohio's holdings in Builders FirstSource were worth $267,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Candriam S.C.A. increased its holdings in Builders FirstSource by 28.9% during the 3rd quarter. Candriam S.C.A. now owns 53,085 shares of the company's stock valued at $6,437,000 after purchasing an additional 11,891 shares during the period. Eagle Global Advisors LLC lifted its holdings in Builders FirstSource by 46.3% in the 4th quarter. Eagle Global Advisors LLC now owns 60,242 shares of the company's stock worth $6,198,000 after buying an additional 19,062 shares during the period. Fieldview Capital Management LLC bought a new stake in shares of Builders FirstSource in the 3rd quarter worth approximately $2,944,000. Schwartz Investment Counsel Inc. increased its stake in shares of Builders FirstSource by 21.4% during the third quarter. Schwartz Investment Counsel Inc. now owns 81,800 shares of the company's stock valued at $9,918,000 after buying an additional 14,400 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in shares of Builders FirstSource by 99.2% during the third quarter. Rafferty Asset Management LLC now owns 97,422 shares of the company's stock valued at $11,812,000 after buying an additional 48,507 shares during the period. Institutional investors own 95.53% of the company's stock.

Builders FirstSource Stock Performance

Shares of Builders FirstSource stock opened at $74.88 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $8.05 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.86 and a beta of 1.49. The business has a fifty day simple moving average of $86.26 and a two-hundred day simple moving average of $103.13. Builders FirstSource, Inc. has a 12 month low of $73.40 and a 12 month high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.12). The business had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.17 billion. Builders FirstSource had a return on equity of 14.89% and a net margin of 1.97%.The firm's quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 earnings per share. On average, equities analysts forecast that Builders FirstSource, Inc. will post 4.26 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a share buyback plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Builders FirstSource news, Director Paul S. Levy acquired 50,000 shares of the business's stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $87.73 per share, for a total transaction of $4,386,500.00. Following the completion of the acquisition, the director owned 1,727,191 shares in the company, valued at $151,526,466.43. This trade represents a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BLDR has been the subject of a number of research analyst reports. Robert W. Baird dropped their price target on Builders FirstSource from $125.00 to $95.00 in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Builders FirstSource from $102.00 to $81.00 and set a "hold" rating on the stock in a research report on Monday, May 4th. Benchmark decreased their price objective on shares of Builders FirstSource from $138.00 to $105.00 and set a "buy" rating for the company in a report on Friday, May 1st. Raymond James Financial dropped their target price on shares of Builders FirstSource from $140.00 to $100.00 in a research report on Friday, May 1st. Finally, William Blair began coverage on shares of Builders FirstSource in a research report on Thursday, February 26th. They set an "outperform" rating on the stock. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $101.88.

About Builders FirstSource

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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