Sumitomo Mitsui DS Asset Management Company Ltd Has $1.70 Million Stock Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,246 shares of the company’s stock after purchasing an additional 151 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Builders FirstSource were worth $1,695,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Builders FirstSource by 15.7% in 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 in the last quarter. Norges Bank bought a new stake in shares of Builders FirstSource during the fourth quarter valued at approximately $212,209,000. Boston Partners raised its position in shares of Builders FirstSource by 73.5% during the fourth quarter. Boston Partners now owns 1,366,784 shares of the company’s stock worth $227,464,000 after purchasing an additional 578,961 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Builders FirstSource by 477,028.7% in the 1st quarter. Bessemer Group Inc. now owns 448,501 shares of the company’s stock worth $93,535,000 after purchasing an additional 448,407 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Builders FirstSource by 152.9% in the 4th quarter. Hsbc Holdings PLC now owns 489,047 shares of the company’s stock valued at $81,628,000 after purchasing an additional 295,643 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Builders FirstSource in a research note on Tuesday, August 6th. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their price objective on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Bank of America lowered Builders FirstSource from a “buy” rating to a “neutral” rating and dropped their target price for the company from $183.00 to $180.00 in a report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $180.50.

Builders FirstSource Price Performance

BLDR opened at $174.00 on Friday. Builders FirstSource, Inc. has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The firm has a 50-day moving average of $155.31 and a 200 day moving average of $172.03. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.45 and a current ratio of 2.21. The firm has a market cap of $21.24 billion, a P/E ratio of 14.90, a PEG ratio of 2.57 and a beta of 2.04.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the previous year, the company earned $3.89 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts expect that Builders FirstSource, Inc. will post 12.91 EPS for the current year.

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

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by corporate 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.