M&T Bank Corp Has $529,000 Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

M&T Bank Corp reduced its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 21.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,241 shares of the company’s stock after selling 1,152 shares during the period. M&T Bank Corp’s holdings in Builders FirstSource were worth $529,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BLDR. Sentry Investment Management LLC acquired a new stake in shares of Builders FirstSource during the 1st quarter worth approximately $40,000. CX Institutional bought a new position in Builders FirstSource during the 1st quarter worth approximately $45,000. New Age Alpha Advisors LLC bought a new position in Builders FirstSource during the 4th quarter worth approximately $74,000. Mather Group LLC. boosted its stake in Builders FirstSource by 19.7% during the 1st quarter. Mather Group LLC. now owns 595 shares of the company’s stock worth $74,000 after acquiring an additional 98 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in Builders FirstSource by 5,227.3% during the 4th quarter. AlphaQuest LLC now owns 586 shares of the company’s stock worth $84,000 after acquiring an additional 575 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wedbush cut their price target on shares of Builders FirstSource from $190.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, June 20th. Robert W. Baird set a $130.00 price target on shares of Builders FirstSource in a research note on Friday, May 2nd. BMO Capital Markets lowered their price objective on shares of Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating on the stock in a report on Monday, May 5th. UBS Group lowered their price objective on shares of Builders FirstSource from $180.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Stephens lowered their price objective on shares of Builders FirstSource from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.42.

Builders FirstSource Stock Performance

NYSE BLDR opened at $126.01 on Wednesday. The company’s 50 day simple moving average is $116.50 and its two-hundred day simple moving average is $130.31. 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 1 year low of $102.60 and a 1 year high of $203.14. The stock has a market capitalization of $13.92 billion, a PE ratio of 16.15, a P/E/G ratio of 8.56 and a beta of 1.69.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the company posted $2.65 EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. Analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In other news, Director Dirkson R. Charles acquired 5,000 shares of the firm’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 transaction, the director owned 5,000 shares of the company’s stock, valued at $548,350. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul S. Levy acquired 283,517 shares of the stock in a transaction dated Thursday, May 8th. The shares were purchased at an average cost of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the purchase, the director owned 1,672,687 shares of the company’s stock, valued at approximately $186,019,521.27. The trade was a 20.41% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 505,000 shares of company stock worth $56,032,120 over the last ninety days. Insiders own 1.80% of the company’s stock.

Builders FirstSource Company 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.