Thornburg Investment Management Inc. decreased its holdings in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,956 shares of the company's stock after selling 6,594 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.20% of Builders FirstSource worth $28,231,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in shares of Builders FirstSource by 24.6% during the 4th quarter. Sei Investments Co. now owns 52,381 shares of the company's stock worth $7,487,000 after purchasing an additional 10,338 shares during the period. UniSuper Management Pty Ltd grew its holdings in shares of Builders FirstSource by 24.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 14,028 shares of the company's stock worth $2,005,000 after purchasing an additional 2,752 shares during the period. NEOS Investment Management LLC grew its holdings in shares of Builders FirstSource by 27.8% during the 4th quarter. NEOS Investment Management LLC now owns 5,709 shares of the company's stock worth $816,000 after purchasing an additional 1,241 shares during the period. Norges Bank purchased a new stake in shares of Builders FirstSource during the 4th quarter worth about $199,890,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Builders FirstSource during the 4th quarter worth about $74,000. Hedge funds and other institutional investors own 95.53% of the company's stock.
Builders FirstSource Price Performance
Shares of Builders FirstSource stock traded up $3.05 during midday trading on Friday, hitting $130.18. 3,999,716 shares of the company were exchanged, compared to its average volume of 1,956,997. The firm has a 50 day simple moving average of $120.07 and a 200-day simple moving average of $129.26. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.82 and a quick ratio of 1.07. Builders FirstSource, Inc. has a 52 week low of $102.60 and a 52 week high of $203.14. The firm has a market cap of $14.39 billion, a P/E ratio of 16.69, a PEG ratio of 11.53 and a beta of 1.69.
Builders FirstSource (NYSE:BLDR - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.03. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. Builders FirstSource had a return on equity of 28.02% and a net margin of 5.66%. The firm's quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.50 earnings per share. Research analysts forecast that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.
Builders FirstSource announced that its board has authorized a stock buyback plan on Thursday, May 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.
Insider Activity
In other Builders FirstSource news, Director Dirkson R. Charles acquired 5,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were purchased at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $548,350. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul S. Levy purchased 283,517 shares of Builders FirstSource stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $111.21 per share, for a total transaction of $31,529,925.57. Following the transaction, the director directly owned 1,672,687 shares of the company's stock, valued at $186,019,521.27. This represents a 20.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 505,000 shares of company stock valued at $56,032,120 over the last ninety days. 2.00% of the stock is owned by insiders.
Analyst Ratings Changes
BLDR has been the subject of a number of analyst reports. Robert W. Baird cut Builders FirstSource from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $145.00 to $130.00 in a report on Friday. UBS Group decreased their price target on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (down previously from $170.00) on shares of Builders FirstSource in a report on Friday, May 2nd. Zelman & Associates restated an "underperform" rating on shares of Builders FirstSource in a report on Friday, July 18th. Finally, Royal Bank Of Canada lowered Builders FirstSource from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $132.00 to $129.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $158.79.
Check Out Our Latest Research Report on BLDR
About Builders FirstSource
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Free Report)
Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.
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