Builders FirstSource, Inc. (NYSE:BLDR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 22.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,062,488 shares of the company’s stock after purchasing an additional 196,571 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of Builders FirstSource worth $147,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BLDR. Vanguard Group Inc. grew its position in shares of Builders FirstSource by 15.7% during the 4th quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after buying an additional 1,985,297 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Builders FirstSource by 11.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock worth $236,489,000 after purchasing an additional 143,041 shares during the period. Boston Partners lifted its holdings in shares of Builders FirstSource by 0.8% in the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock worth $285,794,000 after purchasing an additional 10,551 shares during the last quarter. Norges Bank acquired a new position in Builders FirstSource during the 4th quarter valued at approximately $212,209,000. Finally, Frontier Capital Management Co. LLC grew its stake in Builders FirstSource by 34.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock worth $189,268,000 after buying an additional 292,966 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Price Performance

BLDR stock opened at $176.32 on Tuesday. Builders FirstSource, Inc. has a one year low of $105.24 and a one year high of $214.70. The firm has a 50-day moving average of $153.16 and a two-hundred day moving average of $172.26. The firm has a market capitalization of $21.52 billion, a PE ratio of 15.10, a P/E/G ratio of 2.57 and a beta of 2.04. The company has a current ratio of 2.21, a quick ratio of 1.45 and a debt-to-equity ratio of 0.75.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.57% and a return on equity of 38.66%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same quarter last year, the business posted $3.89 EPS. The company’s revenue was down 1.6% on a year-over-year basis. On average, analysts forecast that Builders FirstSource, Inc. will post 12.91 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLDR. Baird R W raised shares of Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. B. Riley dropped their price target on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird upgraded Builders FirstSource from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $185.00 to $190.00 in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $185.00 target price (down from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.47.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the transaction, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Hiller sold 4,875 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total transaction of $776,343.75. Following the completion of the transaction, the insider now directly owns 30,106 shares in the company, valued at $4,794,380.50. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Builders FirstSource Profile

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.