SummitTX Capital L.P. Invests $8.63 Million in Builders FirstSource, Inc. $BLDR

SummitTX Capital L.P. purchased a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 104,847 shares of the company's stock, valued at approximately $8,632,000. SummitTX Capital L.P. owned about 0.10% of Builders FirstSource at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Schwartz Investment Counsel Inc. lifted its stake in shares of Builders FirstSource by 17.1% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 95,800 shares of the company's stock valued at $9,857,000 after acquiring an additional 14,000 shares during the period. Eagle Global Advisors LLC boosted its holdings in Builders FirstSource by 46.3% in the fourth quarter. Eagle Global Advisors LLC now owns 60,242 shares of the company's stock valued at $6,198,000 after acquiring an additional 19,062 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Builders FirstSource by 10.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,867 shares of the company's stock worth $24,993,000 after purchasing an additional 22,270 shares during the period. Diamond Hill Capital Management Inc. increased its position in Builders FirstSource by 13.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,872,708 shares of the company's stock worth $192,683,000 after purchasing an additional 221,641 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Builders FirstSource by 99,084.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company's stock worth $230,634,000 after purchasing an additional 2,239,301 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Ratings Changes

BLDR has been the topic of a number of research reports. Loop Capital cut their target price on shares of Builders FirstSource from $140.00 to $110.00 in a research report on Friday, May 1st. Barclays lowered their price target on shares of Builders FirstSource from $114.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Bank of America cut their price objective on shares of Builders FirstSource from $123.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Robert W. Baird reduced their price objective on shares of Builders FirstSource from $125.00 to $95.00 in a research note on Friday, May 1st. Finally, KeyCorp dropped their target price on shares of Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating for the company in a research report on Monday, July 13th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $100.35.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $72.89 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.09. The stock has a market cap of $7.84 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.79 and a beta of 1.42. The stock has a 50-day moving average of $77.11 and a 200-day moving average of $91.22. Builders FirstSource, Inc. has a one year low of $65.10 and a one year high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly 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). Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the prior year, the business earned $1.51 earnings per share. The business's revenue was down 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Builders FirstSource, Inc. will post 4.16 earnings per share for the current year.

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

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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