The Manufacturers Life Insurance Company Takes Position in Builders FirstSource, Inc. $BLDR

Key Points

• The Manufacturers Life Insurance Company initiated an 81,775-share position in Builders FirstSource worth approximately $7.3 million, while institutional investors collectively own 95.53% of the stock.
• Analyst sentiment is mixed, with nine Buy, thirteen Hold, and three Sell ratings; the consensus rating is Hold with an average price target of $90.35.
• Builders FirstSource reported weaker-than-expected quarterly results, posting $1.17 in EPS versus $1.25 expected and $3.86 billion in revenue versus $3.91 billion expected; revenue declined 8.8% year over year.

The Manufacturers Life Insurance Company purchased a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 81,775 shares of the company's stock, valued at approximately $7,317,000. The Manufacturers Life Insurance Company owned approximately 0.08% of Builders FirstSource at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in shares of Builders FirstSource by 167.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock valued at $26,000 after acquiring an additional 132 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in Builders FirstSource in the second quarter worth $38,000. MUFG Securities EMEA plc bought a new position in Builders FirstSource in the 2nd quarter valued at $38,000. Sunbelt Securities Inc. grew its stake in Builders FirstSource by 508.5% in the 1st quarter. Sunbelt Securities Inc. now owns 359 shares of the company's stock valued at $30,000 after purchasing an additional 300 shares during the period. Finally, Transamerica Financial Advisors LLC increased its position in shares of Builders FirstSource by 90.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after purchasing an additional 175 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLDR has been the topic of a number of research analyst reports. Wolfe Research raised shares of Builders FirstSource to a "hold" rating in a report on Thursday, May 14th. Benchmark decreased their price objective on shares of Builders FirstSource from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Oppenheimer lowered their price objective on shares of Builders FirstSource from $110.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Barclays dropped their target price on shares of Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Finally, Weiss Ratings lowered shares of Builders FirstSource from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, July 21st. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $90.35.

Builders FirstSource Price Performance

NYSE BLDR opened at $67.74 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14. The company has a market cap of $7.29 billion, a PE ratio of 74.44, a price-to-earnings-growth ratio of 2.20 and a beta of 1.44. Builders FirstSource, Inc. has a 52 week low of $65.10 and a 52 week high of $151.03. The firm's 50-day simple moving average is $74.96 and its two-hundred day simple moving average is $82.50.

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

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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